I am disgusted by the blatant milking of investor money happening in the stock market. Case in point, just look at the media coverage of Research in Motion (RM.TO) before and after their earnings release yesterday. It was just days ago when investment firms were going gaga over Research in Motion (RM.TO). See table below for the accolade of buy recommendations. Globe and Mail even posted the following article the day before earnings release, "Expectations high as RIM set to report". Then immediately after RIM's earnings release yesterday, which was after the market close (when only the big banks and brokers can trade amongst themselves), headlines such Globe and Mail's "RIM profit short of expectationsÃƒÂ¢Ã¢â€šÂ¬Ã…Â½" pops up all over the news wire. Goldman Sachs even promptly downgraded RIM to a SELL. Citing concerns from Apple, Google, etc. As if the world around RIM suddenly changed within minutes before and after their latest earnings! Not surprisingly, RIM (on Nasdaq) traded -5% post-market last night and gapped down big today. Anyone that bought into these sales pitch (see table) just days ago would have been hit hard. This type of orchestrated raids from the media and big investment firms never cease to disgust me. That is a reason why I've taken to learn to trade and not invest with a buy-and-pray mentality.
01-Apr-10 Reiterated Credit Suisse Outperform \$95 ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ \$100
26-Mar-10 Upgrade JP Morgan Neutral ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ Overweight \$70 ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ \$84
25-Mar-10 Initiated Rodman & Renshaw Mkt Perform
19-Mar-10 Initiated Wunderlich Buy \$96 08-Mar-10 Upgrade BMO Capital Markets Market Perform ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ Outperform \$70 ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ \$88 01-Mar-10 Reiterated Canaccord Adams Buy \$95 ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â„¢ \$100