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[sharechat] Sharebrokers' advice

From:	"Capitalist" <capitalist@paradise.net.nz>
Date:	Sun, 14 Jul 2002 17:50:00 +1200

On the 'Free Bears' newsletter that I think a few get here, Des said:

Sharechat.co.nz chatroom has been discussing the objectivity of stockbrokers� advice and one correspondent observed: �Funny thing about brokers is that they almost always willing to put forward a 'buy' but hardly ever say 'sell."

I never saw that thread, but the answer is a no-brainer. Brokers dislike saying sell because the companies concerned don't like it and give them hell. End of story. Except for an elite few, brokers are considered the used car salesmen of the finance industry.After the raft of redundancies a while ago many could not get jobs in the finance industry in NZ, and several personal broker friends have had to relocate to Australia. Those who think broker recommendations are the holy grail are seriously delusional.

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