sell-side rumors or truths?

This is a...touchy subject.

I agree with Flake. This is a very touchy subject. The more important point is that I don't think knowing this answer will help you in anyway with getting a job in ER. Let's move to the next question.

look at the career of mike mayo. an outspoken analyst who doesn't give two shits about pleasing the client but writing an honest report. . . funny how he hasn't been able to maintain a steady job for any amount of reasonable time and has worked at over a half dozen banks.

conflicts of interest certainly do exist.

The fact Flake gave you an honest answer, speaks volumes to your question.

So better question who the fuck pays for these inaccurate reports that are put out when the publishing firm has a clear conflict? Shouldn't you guys all be unemployed or at more independently managed ER shops?

Furthermore, don't you feel any remorse for basically misleading the investors that actually have faith in your ability to identify good investment decisions versus poor ones and put their hard earned money into your firm?

it is what it is

you know this is a touchy subject when no trolls are in it

I have no way of knowing firsthand but I've spoken with PMs that avoid sellside research like the plague.

Actually, Mayo's career has been pretty amazing despite the fact that he's worked for 10+ banks. While Flake is right that this is a very touchy subject, conflicts of interest need to be noted in the reports. This is because of Post-Tech Bubble regulations that were created as a result of a number of issues from the Tech Bubble. The Global Settlement was a partially result of conflicts of interest not being disclosed.

If I have understood what Flake has said on this forum, no one on the buy side gives a fuck about sell side recommendations regarding buy, hold, or sell. Sell side reports are just a nice starting point for generating ideas and initial research.

In the end, investors are responsible for their own DD.