Analyst Quotes On Financials
“These companies don’t own factories, they don’t own hard assets, it’s a confidence game. If you don’t believe the numbers, it’s hard for us and others to get involved. All you need is a little change in their reserves and you wipe out equity.”
– Head of a Private Equity Firm (subscription required)
“If you look out a couple quarters, it’s hard to be particulary bullish about financials.”
– Jeff Arricale, Financial Stock Mutual Fund Manager, T. Rowe Price (subscription required)
“Our concern is on relying on a company’s statements that has no CEO and is facing a potential SEC investigation and may have engaged in questionable private transactions.”
– Mke Mayo, Investment Bank Analyst, Deutsche Bank, explaining his downgrade of Merrill Lynch from “Buy” to “Hold”