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Article: 'Sell' too seldom heard on Street
- Article from:
- The Herald News - Joliet (IL)
- Article date:
- June 1, 2007
CopyrightCopyright, 2007, The Herald News. All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
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ut my daughter's account at Wachovia. She was told in February of this year to buy 500 shares of Beazer Homes when Wachovia's research recommended the stock at $45. She did and it's now $37.47 and she's down eight points, or $3,765. I think she should sue Wachovia for two reasons: The housing industry was in awful shape when the Beazer recommendation was issued and when the stock started falling Wachovia never issued a sell recommendation. This is certainly irresponsible on their part and a breach of fiduciary responsibility to their investors.
D.N.
Bethlehem, Pa.
Dear D.N.: Wall Street's research (that which is given to the public) isn't worth three pigs in a poke, a plugged nickel or a ...