They got it right 38% of the time!! YEAH, 38% of correct analyst gets them the Highest Rating! THAT IS PITIFUL!
Mind you they are the bank that advices Countries (Greece) and they are the Bank that has LOST Money for those who they have advised this Year - BUT They have MADE MONEY IN HOUSE - DUE TO SHORTING THE ADVICE THEY GIVE TO OTHERS!
Portion from Article:
The ranking is based on stock recommendations made by more than 2,500 analysts worldwide at 77 research firms and investment banks from January 2008 to July 2010. It looks at the analysts’ “buy,” “hold” and “sell” calls on shares of 90 of the largest banks, diversified financial service companies and insurers in the U.S., Europe and Asia with at least 20 analysts covering them.
Even the best of the firms and individual stock pickers failed to accurately predict the fall and rise of most big financial stocks. Goldman Sachs’s analysts won their No. 1 rank by making 30 accurate calls on the 79 financial stocks they follow, or 38 percent, while KBW’s No. 2 post was based on 27 prescient calls on 78 stocks.
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