That’s right folks - refusing. The Wall Street Journal just published a nice profile of Mark Mahaney, Citi's Internet analyst, who has long been one of the best Internet analysts on the Street.
The focus of the profile is how Citi is now cashing in on Mahaney via tech IPOs: The companies all want Mahaney to cover their stocks, so they pick Citi as an underwriter.
This, of course, was one of the big reasons that companies chose particular underwriters back in the wild-and-crazy 1990s: They wanted the industry "axe," as the most influential analysts are known, to get investors all hot and bothered about their stocks. And given that the IPO process is pretty much a commodity transaction, the clout of the research analyst is one of the easiest ways for firms to differentiate themselves…..
Read more: http://www.businessinsider.com/mahaney-fired-from-hedge-fund-2012-1
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