Fund My Mutual Fund: Bloomberg: Taking Wall Street's Advice Means

While a ``hold'' might be enough to signal to institutional investors that a company is in decline, retail investors follow analyst recommendations literally, according to a study published in the Journal of Financial Economics in August. Citigroup Inc., Bank of America Corp. and more than a dozen other firms told clients to purchase European energy producers and U.S. drugmakers while selling banks and retailers, according to combined rankings compiled by Bloomberg.
But earnings also give an important indication to institutional investors as to what can be expected from the rest of the banks, and, importantly, how the Big 5 will be positioned for further growth and expansion ahead. Mark Bunting, analyst for BNN, reports that CIBC profits came in only slightly lower than the expected $1.39/share. CIBC missed this by just three cents. New profits are still up five-fold from last quarter and the stock is up 34% year to date – lower
The ratings and rankings are closely followed by investors and hugely influential to investors' buy-sell decisions, which contributes to the high turnover and volatility in China's fund industry. Howhow Zhang, an analyst at Z-Ben