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February 14, 2013

I am Retorque...

Guess Who Was Buying HNZ Stock From Its Clients | Zero Hedge.

An investment bank having a Sell rating on a stock? Usually an unheard of thing: why alienate the management, why prevent future banking business – it’s not like banks are ethical creatures – and sure enough in this particular case, the bank in question had sell recos on just 14% of the stocks in its coverage universe. Which begs the question: what does a Sell rating really accomplish? Well, in this case, and in all such cases, it merely provides the firm’s prop, pardon flow, traders the opportunity to accumulate the shares its “clients” are advised by the same bank’s sellside group  to Sell, preferably to the bank in question. Who are we talking about? Take a wild guess…

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