Stock Analysts

All that glitters ...:
David Baines. The Vancouver Sun. Vancouver, B.C.: Aug 30, 1997. pg. C.5


Even now, The Globe - bloated with self-aggrandizement - isn't ready to admit that, rather than blindly quoting the brokerage firm employees who recommend stock for a living, it should have asked some more penetrating questions about the veracity of the Bre-X deposit.

``The analysts who followed Bre-X have a lot to answer for, as the welter of lawsuits against many of them attests,'' the authors write. ``What value did they provide to investors, as opposed to their firms, given the profoundly flawed advice most of them provided?''

The Globe might have also asked what value the business press provided by giving currency to this bogus advice. But that would be too much to ask, given the symbiotic relationship between business journalists and stock analysts, a relationship that, despite the Bre-X fraud, remains intact.