By way of example on that point jtaylor, I recently attended a number of fund manager lunches, and more than one of the managers commented on the fact that many of the broking houses and manager peers had laid off analysts, especially at the small-micro cap end of the market (which is generally skewed to junior analysts anyway).
They felt that this presented a very good opportunity for the well resourced small and micro cap managers to buy undervalued companies in the current environment.
These particular managers were meeting directly with up to 15 company CEOs on a weekly basis to get a direct feel for where these businesses are at.
In short, there is definitely a lack of quality information flow and coverage on stocks such as NMS at the moment due to issues such as staff cut backs.
For those who are willing to do their own research, the great buying opportunities are most definitely there.
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- patersons broker update dated 26/05/09
patersons broker update dated 26/05/09, page-9
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