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Oppenheimer is coming to Jefferies' (JEF) defense, blasting an Egan-Jones report claiming...

Oppenheimer is coming to Jefferies' (JEF) defense, blasting an Egan-Jones report claiming Jefferies needs to raise significant capital to avoid junk status. Among other things, Oppenheimer calls Egan-Jones' revenue figures "flat out wrong by a country mile," and its estimates for Jefferies' asset base "grotesquely wrong."
Comments (8)
  • Tom Armistead
    , contributor
    Comments (5219) | Send Message
    Amazing fellow, Sean Egan. He brags that his reports are unbiased because they are not paid for by the companies rated.


    I'm not sure, if someone else paid Egan to rate Jeffries, why he feels compelled to shout his opinion from the rooftops, unless that's part of his service?


    You would think the buyer of his services would want him to keep things hush-hush, so that person or institution could unload their stake in Jeffries.
    23 Nov 2011, 08:57 AM Reply Like
  • Tack
    , contributor
    Comments (12726) | Send Message
    Not if his client is a short seller.
    23 Nov 2011, 08:59 AM Reply Like
  • HiSpeed
    , contributor
    Comments (1063) | Send Message
    LEH, too, was fine until it wasn't...
    23 Nov 2011, 08:58 AM Reply Like
  • calculatorci
    , contributor
    Comments (12) | Send Message
    JEF isn't Lehman. JEF is in play I see an offer in excess of $15 by year end. Dick Bove has been all over this.
    23 Nov 2011, 09:02 AM Reply Like
  • wyostocks
    , contributor
    Comments (7620) | Send Message
    I remember Dick Fuld and his CFO Callen defending Lehman and we all know how that worked out.
    Buyer beware, you are warned. Big upside in the equity but with big upside comes big risk.
    23 Nov 2011, 09:06 AM Reply Like
  • Tack
    , contributor
    Comments (12726) | Send Message
    Starting to like the looks of selling July 2012 $8 puts for over $2 each.
    23 Nov 2011, 09:08 AM Reply Like
  • mcostigane
    , contributor
    Comments (44) | Send Message
    somehow i doubt it...E-J is the ONLY ratings agency to be trusted
    23 Nov 2011, 09:53 AM Reply Like
  • veggieover
    , contributor
    Comments (3) | Send Message
    Egan Jones seems to be suffering from gross incompetence. Their JEF report was demonstrated to be full of factual errors and they lack the professional integrity to admit it.
    29 Nov 2011, 03:04 AM Reply Like
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