Investor Skepticism v. Investor Confidence: Why the New Research Analyst Reforms Will Harm Investors

Part I of this Article provides an overview of research analysts and their basic functions, including a discussion of sell-side analysts\u27 role in the market\u27s recent boom and bust. Part II examines the conflicts of interest that have plagued sell-side research, and Part III reviews the Regulatory Actions that are meant to address these conflicts. In Part IV, the author will make the case for encouraging, rather than lessening, investor skepticism in sell-side research and will explain why the Regulatory Actions are not likely to improve the performance of sell-side analysts. Finally, Part V will offer a simpler proposal to address the sell-side analyst issue. While there may not be a solution to the maybe not problem, the information gap between institutional investors and retail investors regarding the weaknesses of sell-side research can be eliminated, which would allow retail investors to benefit from the value of sell-side research while also granting them the opportunity to properly protect themselves from its weaknesses. Akin to the Surgeon General\u27s warning for cigarette manufacturers, this Article proposes that sell-side analysts and their firms be required to prominently include, with all research, a short and clear warning from the United States Securities and Exchange Commission ( SEC ), regarding the historical weaknesses of sell-side research

To sell or not to sell? Behavior of shareholders during price collapses

It is a common belief that the behavior of shareholders depends upon the direction of price fluctuations: if prices increase they buy, if prices decrease they sell. That belief, however, is more based on ``common sense'' than on facts. In this paper we present evidence for a specific class of shareholders which shows that the actual behavior of shareholders can be markedly different.Comment: 9 pages, 1 figure. To appear in International Journal of Modern Physics

A Fond Farewell

With the graduation on May 22, 2004, two valued members of the law school faculty retired. Not only were they valued members of the faculty, but they were two of my personal friends. Because I had a significant role in their law school education and their hire onto the faculty, it is difficult to put into words my deep feelings about their departure. Therefore, I present this tribute with mixed emotion —happy for them but sad to see them depart

Pinning it down: An evaluation of Pinterest’s function in the British academic library

University libraries have found a useful resource for themselves in many social media platforms. At Leeds Beckett University Library (formerly Leeds Metropolitan University), Twitter has proved a popular way to connect with students, other libraries and universities. Our Twitter following has exceeded 3,800, and our library Facebook had over 1,100 followers by May 2014. While we continue to develop these two sites, however, we acknowledge that we are not part of a stable environment. Social media is faddish; the favoured platforms change frequently. Facebook has largely taken custom away from Myspace, while Myspace used to tussle for users with Bebo, and Google Plus has taken their share of professional networks away from other platforms. With this in mind, any organisation using social media has to think about whether they should use – and if so, how to use – emerging virtual social networks

The Bohl spectrum for nonautonomous differential equations

We develop the Bohl spectrum for nonautonomous linear differential equation on a half line, which is a spectral concept that lies between the Lyapunov and the Sacker--Sell spectrum. We prove that the Bohl spectrum is given by the union of finitely many intervals, and we show by means of an explicit example that the Bohl spectrum does not coincide with the Sacker--Sell spectrum in general. We demonstrate for this example that any higher-order nonlinear perturbation is exponentially stable, although this not evident from the Sacker--Sell spectrum. We also analyze in detail situations in which the Bohl spectrum is identical to the Sacker-Sell spectrum