One day, in the not-too-distant future, I see a world where analysts collectively reclaim their dignity and stop the childish and sycophantic practice of wishing "congratulations on a great quarter" during conference calls. Like, maybe today.
It was one thing when these calls were closed and nobody knew what went on. It is another thing now that they are wide open and everybody can hear. It is just plain embarrassing. These people should know better. I understand that these analysts are not objective critics of their industries. They only play them on television. But when one analyst after another congratulates management, even if the quarter is disappointing [as
JDS Uniphase's (JDSU Quote - Cramer on JDSU - Stock Picks) was], you want to
cringe.
I often make analogies to sports. One of the things that makes sports reporting great is that the journalists who cover these teams for their hometown paper suppress their obvious loyalties to attempt to get behind the scenes and understand things. Why do these reporters have more backbone in the locker room after a loss or a not-so-hot win than analysts do when billions of dollars are on the line in a conference call?
Analysts, stop this inane practice now. In my new role as a strategist, no longer reliant upon your day-to-day calls, I will feel compelled to name my Sycophant of the Week if this doesn't stop. You, the readers, can weigh in with your suggestions. I will do the playback. We will have a hooting good time. And we will shame you into having some spine, even if you don't want it.
Jim Cramer
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