26-09-2017, 09:24 PM
(26-09-2017, 09:10 PM)You weijian Wrote:(26-09-2017, 03:55 PM)Squirrel Wrote: Its a pretty long but really informative piece of research report. Given it's company sponsored report, would that give more credence to the part mentioning plans of purchasing 25 golf courses at 5 golf courses per year? That should bump up dividends if it really happens.
Wouldn't the contrary be true instead? ie. How much credence is there in a "sponsored report"? Granted that this seems to be directly paid, rather then indirectly (I use your investment banking services, you give me favorable reports through your brokerage), and so actually making it not much different from majority of other "independent" brokerage reports.
P.S. I think it would be fine to treat the report as a "factsheet" and try to ignore all others that try to do projections, just my personal opinion anyways.
I am not trying to say that the report is unbiased, the credence is referring to the piece of information regarding acquisition of golf courses. What I am trying to drive at is that, since this is a sponsored report, does that mean that the analyst has unfettered access to management and thus has better insight into their plans. Is this expansion plans information that other analysts can't get?
That aside, this report does work as an excellent fact sheet. Personally I find the report very factual and I don't get the feeling that it's trying to "sell" the company. It presents both sides of the company, good and bad.