Some more of my favorite documents from the Lehman Examiner's Report. This time, analysts who were wrong about Lehman — some spectacularly so. It's hard to top the Buckingham Research Group note, but Morgan Stanley, Citi, and (of course) Moody's give them a run for their money.
Buckingham Research Group - Lehman Brothers: Rating Agency Risk Too High (Sept. 11, 2008)
Morgan Stanley - Lehman Brothers: Bruised, Not Broken — And Poised for Profitability (June 30, 2008)
[Since Citi decided to remove the copy of their broker note that I had posted on Scribd, here's the direct link to the Examiner's copy of the note: Citi - Lehman: Upgrading to Buy; Reality Will Trump Fear (Mar. 28, 2008). Try sending a takedown notice to the Examiner, Citi. I dare you.]
Moody's - Liquidity Risk Assessment: Lehman Brothers Holdings, Inc. (April 15, 2008)
Private articles about economics Hall of Shame: Analysts Who Were Wrong About Lehman © 2011 |
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