A sell-side research analyst's boss tells them what conclusion to reach and they have to come up with a report to justify that conclusion in order to sell the stock, making sell-side research inherently compromised regardless of the analyst's intelligence or integrity.
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Speaker
DavidEvidence Quote
“one of our portfolio managers had that job for a while and he said his boss would just tell him what he wanted the answer to be and he had to come up with the report to justify the answer that way then go sell the stock”
Source
This Ex-Poker Pro Built a Hedge Fund by Betting Against Beta – David Orr on Asymmetric Bets— Odds on OpenCreated: 8/12/2026, 6:42:53 PM
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