virginCFAhooker Wrote:
-------------------------------------------------------
> There's an old ploy that clever brokers use to get
> clients...
>
> They start with a list of hot stocks; any source
> will do, ibd, newsletter, etc.
>
> They cold call potential clients, tell them about
> their services and offer a special stock pick.
> They repeat this over and over again. They track
> which stock they offered to which potential
> client. If the stock is successful, they call
> that client back. They try to get their business,
> or offer them another stock. Rinse & repeat.
>
> If they repeat this enough, they'll end up with a
> client list.
This is what the sales people I work with do, except that they have taken it one step further. It seems (or maybe I'm just cynical) that they hedge by intentionally taking the opposite position as some of our analysts on any particular stock. If the stock goes against the analyst, they win, and if the stock goes for the analyst, they can just forward on the research report to their clients and say "I told you so." Brilliant. (And sadly, it apparently works pretty well.)
Edit: I'm starting to feel that sales people really add almost no value whatsoever to the client, except maybe in a repackaging role in the event that the client is too lazy to read the entire research report.
Edited 1 time(s). Last edit at Wednesday, April 11, 2007 at 11:33AM by asdffdsa.