Here’s Proof That Wall Street Equity Research is Not Reliable

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In this podcast, CEO David Trainer discusses how a recent headline provides an example of why you shouldn’t rely on sell-side Wall Street research to make good stock picks.

Listen below:

Photo credit: Sue Waters

About The Author

Andre Rouillard

Investment Analyst at New Constructs


  • John

    May 14, 2015

    Remember Michael Mayo’s headline report…sell Citi? I believe it went out around May, 1999. Back then, Citi was selling at an adjusted closing equivalent price of around $230. It went up to over $500 in adjusted price before the bubble burst but today it trades at $54 and change. I guess MM was right after all. Thanks for the honesty, Michael. you were missed after you left.

    By the way, did I hear coverage of 10,000 stocks in the podcast? If so, where are the extra 7K coming from beyond the Russell 3K?

  • Andre Rouillard

    May 14, 2015

    Hi John,
    He’s of the best and most honest analysts in the business, always holding companies’ feet to the fire.

    That “10,000 stocks” comment is a misstep on our part. We cover 10,000 securities: 3,000 stocks and 7,000 ETFs and mutual funds. Good catch — thanks for holding our feet to the fire.

  • Erik

    May 14, 2015

    Marketwatch article – “horrific call” is pretty funny. Stifel wasn’t an underwriter on ZU’s IPO:

  • John

    May 14, 2015

    No intention to hold any feet to the fire from my end. Securities analysis work you guys are doing is absolutely phenomenal and the 3,000 keeping me very much occupied. Just noticed a locations tab on dynamic screen that went outside the U.S. and was thinking international when I heard the 10,000. Exciting stuff.

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