A Nyquist portfolio company reported earnings recently. It’s a small market cap tech firm, <$500M.
I am now the proud recipient of 14 different sell-side research reports, freshly printed, sitting on my desk. Many Weyerhaeuser (WY) pines died to bring me this information. But unlike the information obtained by the Bothan spies, the information sitting on my desk is without exception, worthless.
Why do 14 firms to all cover the same company but don’t try to differentiate themselves in any meaningful way? Out of the 14 reports, all but 1 have either market perform or outperform-like ratings (everyone uses their own catchy term for buy/sell/hold these days). The Sell report is the only one with any differentiated information, and the only one that sticks it’s neck out on the line.
What a waste.