Investing

Why Wall St. Needs Analysts To Create Rumors

Another random buyout analysis from a small research firm hit the news this AM. Richard Greenfield of Pali Research said that Rupert Murdoch would get tired of waiting for Dow Jones (DJ) and would withdraw his offer. Dow Jones stock is down a little over 2%. Whether the drop has anything to do with the Pali analsysis is hard to tell.

Perhaps the small bank has talked to Mr. Murdoch. Pali describes itself this way: "Our mission is to be a global financial services firm that provides value-added products and services to our diverse but strategically targeted investor base in a way that exceeds our clients’ expectations."

Perhaps that means spreading pointless speculation.

Douglas A. McIntyre

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