Oogling Google: Comments and Corrections
New York, NY - Recently Integrity Research Associates wrote an article discussing the inefficiencies surrounding excessive research coverage of many large cap companies (namely Google). As a result of that article, we received many comments from readers explaining this phenomenon and pointing out certain errors that we felt must be corrected.
First, the reason that many sell-side firms cover the same large cap companies is that clients see a direct relationship between the ability of a firm to provide research coverage on a company and the capability of that firm to provide high quality execution in that stock. Consequently, firms that want to attract trading flow in a large company name must also provide research coverage for that stock -- a development that leads to over coverage in many large cap names.
Another point that needs to be made about the Google article is that we printed a mistake about Merrill Lynch's distribution of research via Thompson. Merrill Lynch does distribute its research to clients via the Thompson platform, and Justin Post of Merrill Lynch does cover Google. Consequently, forty (40) sell-side and independent analysts provide research coverage of this company.
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A.G. Edwards |
Denise Garcia |
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American Technology Research |
Rob Sanderson |
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Argus Research |
Robert Becker |
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Atlantic Equities |
Hamilton Faber |
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Bank of America |
Brian Pitz |
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Bear, Stearns & Co. |
Robert Peck |
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BMO Capital Markets |
Leland Westerfield |
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Cantor Fitzgerald |
Derek Brown |
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CIBC World Markets |
Jason Helfstein |
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Citigroup |
Mark Mahaney |
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Cowen and Co. |
James Friedland |
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Credit Suisse |
Heath Terry |
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First Global Stockbroking |
Pratik Jain |
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Global Crown Capital |
Martin Pyykkonen |
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Global Equities Research |
Trip Chowdhry |
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Goldman Sachs & Co. |
Anthony Noto |
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Guzman & Company |
Philip Remek |
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J.P. Morgan |
Imran Khan |
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Jackson Securities |
Brian Bolan |
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Jefferies & Co. |
Youssef Squali |
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JMP Securities |
William Morrison |
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Lehman Brothers |
Douglas Anmuth |
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Merrill Lynch |
Justin Post |
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Morgan Stanley |
Mary Meeker |
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Needham & Company |
Mark May |
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Nollenberger Capital |
Todd Greenwald |
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Oppenheimer & Co. |
Sandeep Aggarwal |
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Pacific Crest Securities |
Steve Weinstein |
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Piper Jaffray |
Gene Munster |
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RBC Capital Markets |
Jordan Rohan |
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Soleil – Media Metrics |
Laura Martin |
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Soleil – One-on-One Research |
Dawn Talbot |
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Standard & Poor's Equity Research |
Scott Kessler |
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Stanford Financial Group |
Clayton Moran |
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Stifel Nicolaus |
George Askew |
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Susquehanna Financial Group |
Marianne Wolk |
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ThinkEquity Partners |
Stewart Barry |
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Thomas Weisel Partners |
Christa Sober Quarles |
|
UBS |
Benjamin Schachter |
|
William Blair |
Troy Mastin |
According to Google, all the traditional fundamental research companies that provide coverage of the company are listed above. This list DOES NOT include Research firms that take quantitative or technical approaches to their analysis.
Posted at 11:58 am by mwmayhew
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