Full of Bull (Updated Edition): Unscramble Wall Street Doubletalk to Protect and Build Your Portfolio

8. Reforming Research to Level the Playing Field

Various elements of Street research are detrimental to individual investors. There needs to be an array of alterations in the manner in which brokerage firms conduct research, to make the game fairer and to put individuals on par with professional Street insiders. The system that went so awry in the 1990s will not be corrected until all parties involved in the investment business have altered their practices. The necessary research reforms should be spearheaded by the SEC. Bodies such as the NYSE and NASD could also be effective as catalysts for improvement. Although individuals do not have the power to effect these changes, their voice is powerful, and they should make their grievances known ...