The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- It always amuses me to watch Wall Street analysts back-peddle from bearish comments made about companies that never really deserved to be doubted in the first place. Warren Buffett once said that when a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact. This has always been an axiom to which I've subscribed and one that has proven to be true time and time again. Except recently (to my amazement) it has proven to not be so and it was indeed the reputation of the management team that trumped the perceived poor status of the business' economics. In disappointing fashion, Wall Street still refuses to give credit where credit is due.
Investors have to remember that companies don't go out of their way to make promises that they don't intend to keep -- especially when it is understandable that Wall Street expectations have already been lowered due to business economics. What I have found impressive in all of this is that analysts continue to present Alcoa with an "easy out." But remarkably, the company continues to say, no thank you. 10 Stocks That Could Rise in Market Decline >>