JEREMY THOMAS: MTN survives Citron hit on Jumia as sell-side goes rogue
Selloff in telecoms company due to expected cataclysmic fall after the kick in the pants has been mild, but attack on ecommerce firm worked
We’re all familiar with fluffy opinions on stocks, mostly positive, shared by talking heads in fund management who we accept are goosing the chances of companies they fancy. It does us no harm to listen, and sometimes act. Warren Buffett is the godhead of such benign advice, and we know it usually works in everyone’s favour. Podcast | Business Day Spotlight - Huawei vows it will not crack under pressure Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Casts | Player.fm That’s the “buy” side. The “sell” side is a different beast. Institutions prize their star analysts because their research makes money. It is proprietary information for sale, and we in the pilchard school of investment only feel the effects on prices after sell-side information has been bought and acted upon.This is all fine and above board: we can only hope our dear retail investment managers have purchased the knowledge and taken steps on behalf of our unit trusts and pension pots.But what about when the sell...