In the late 1990s, not many financial analysts were more prominent than Morgan Stanley's Mary Meeker and Merrill Lynch's Henry Blodget. The pair could make or break an Internet stock with a single forecast, and made headlines that were self-fulfilling, on eBay (EBAY), Amazon (AMZN), Yahoo! (YHOO) and many others. But Blodget went down hard, going to trial for conflicts of interest.
Now in 2006, Henry is freed to write on basically anything he likes, on his own blog, Internet Outsider, where he gives his honest opinions on tech stocks, just like the old days. In recent weeks, he's covered the latest happenings at Google (GOOG), Amazon's ill-fated idea to launch a music service to compete with Apple's (AAPL) iTunes and iPod combo, and continued issues at Time Warner (TWX) and AOL. While he now lacks the big name of Merrill Lynch as a backer, his comments still ring true and are an interesting take. Whether he should have been banned from the world of financial analysis is a different issue, but it does seem after so many made and lost millions in the market so quickly, a scapegoat was needed.
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