You know a firm’s finances aren’t doing so well when the firm’s own analysts downgrade themselves. (Hat tip: J. Lonsdale)
CIBC May Take $4.1 Billion Writedown, CIBC Analyst Says (headline has changed but the original was as we laid out). This just speaks to credibility of CIBC’s (NYSE: CM) equity research department!! ….or the fact that their equity research department just got laid off.
Now if only all the analysts I talked to were this honest…Leave a Comment