If you have a chance to visit New York-----stop by the Merrill Lynch headquarters. Not sure where it is. Just look for the location with all the stretch limos parked to wisk the brokers at closing to their homes, or maybe over to Harrys for a quick one on the way.
I would propose a rule. On any day that a brokerage firm suffers a 15 BILLION dollar loss....one would suspend brokerage recommendations for at least 24 hours out of humility. Today...right after the news of the loss broke....Merrill had some timely buy advice on Time Warner stock....excuse me....Time OUT.
Friday, January 11, 2008
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