Word: access
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Dates: during 2000-2000
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...Saturday. Everything is not under control. By day's end Lehane still hasn't given me the hookup. I'm getting nervous; access to Gore himself has been virtually nonexistent so far; only daughter Karenna and her husband, Andrew, have been spending much time down below decks with the newsies. My editor's getting nervous; he wants this to work. Maybe I can ask Karenna to take up a note? Maybe pigs will fly. Lehane promises an answer by Sunday. I think about how to arrange an honorable death for myself...
Confused? So was the Securities and Exchange Commission, which last Thursday set forth a rule designed to take the premium out of analysts' direct access to management. From now on, the SEC decreed, companies may not disclose material information to Wall Street--that means the analysts at mutual funds, institutions, and brokerages--without releasing the same information at the same time to the public via a press release, webcast or other means...
...rule has the desired effect, you'll be invited to listen in on key conference calls and get e-mail when a company you've flagged files with regulators or issues a press release. As a side benefit, the rule promises to marginalize analysts living large solely on the access their position affords them. They may actually have to do some independent analysis...
...rule, which takes effect in about 60 days. Make sure you have audio capability so you can plug in to conference calls. You won't get to ask questions, but you will hear what the analysts ask and how executives respond. Most online stock market sites give you fast access to company news. Check with any company you are tracking for a schedule of analyst calls. They are also listed on financial websites and at BestCalls.com which webcasts them without charge...
With such access, maybe next time Blodget or another analyst signals a sell, you'll have taken that action long ago--and be poised to scoop up a bargain...