Everyday we come across analyst reports offering various BUY and SELL recommendations, and all we can think is that prett much every BUY one has been a total disaster. And we kind of wonder why they even bother in this environment. Well, one firm has stopped bothering.
Boston-based Canaccord Adams has decided to drop is weekly best stock picks. That’s it. No more. It makes sense, as every recommendation for the last year has just been a total wreck. In normal times this might be a good contrarian indicator, but who knows.
If you’re on the Titanic, there’s not much solace in the fact that everyone is bearish.