Stockbrokers' analysis not to be trusted

Be very wary of the recommendations of stockbrokers' analysts because they do not have the investor's interests at heart, warned Richard Prew, head of UK equities at Norwich Union. Prew condemned stockbrokers' analysts for their untrustworthiness while speaking at FundNetwork's 'The Big E-asy' conference last week. He said: "Take Sage for example. They have a fantastic track record with the shares up to £9 from £2 only two years ago. Analysts told us the shares are discounting 30% profits for the next 15 years. If they produced this, their profits would be greater than the GDP of Canada, s...