To think that these guys don't play games because of compliance...

To think that these guys don't play games because of compliance is pretty naive there mungbean. Not saying they do or they don't....smoke and mirrors though. Their Feb 14 analysis on FMG looked outstanding although even someone like myself that has been always bullish on FMG thought it may have been over the top (40c dividends by end of next year...wow). What it does show is these guys that apparently know the market so well have (in a 4 month period) downgraded their last analysis target by 48%. I wouldn't have much conviction in my decision to invest with a MS broker after that as there is not much credibility there. Sure, things have changed dramatically but in my opinion, it goes to show does anyone really know where we are headed and how various market mechanisms will react? I think it is becoming apparent that everyone is in for a wild ride (whatever side you are on) but that's IO isn't it! Perhaps in September MS will be back at a price target of $6ish given there is a lot to shake out in the next four months.