In the stock picking beauty pageants, JP Morgan (NYSE: JPM) has won a prize. Bloomberg reported:
JPMorgan, under Americas equity research head Noelle Grainger, scored the largest number of highly ranked analysts, making it the No. 1 firm in U.S. equities research.
Bank of America (NYSE: BAC) ranked second and Morgan Stanley (NYSE: MS) third. The award is one in a series of such rankings, the most visible of which is done by the Wall Street Journal. The problem with the reports is that none is based on the same set of criteria. That leaves readers of the reports with a scattered impression of which firms are really superior to others.
Douglas A. McIntyre