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Under The Radar News - Wednesday

Posted on May 14, 2008

Sell-side mandate. Merrill Lynch's (MER) new dispersion guidelines will require equity analysts to rate at least 20% of the companies they cover Sell (or Underperform as Merrill calls it), about four times the Wall Street average. Buy ratings will be capped at 70% of an analyst's coverage. Anybody can find good stuff to buy. It's the sell research people pay for, one money manager quipped. Another thinks Merrill's trying to lure lucrative hedge fund managers: It's not so much throwing in the towel on the long bias they've had, but probably trying to go after the customer base that has g...

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