Two thirds think 'bovine' analysts are worthless

Analysts are worthless. That was the verdict of 64 per cent of FT.com readers who responded to an online poll in the wake of HSBC's global head of equity research's email slamming the bank's analysts.

Graham Copley said the bank's analysts did not deserve to be paid this year, and two thirds of the public agreed, according to the Financial Times.

"Analysts try hard to think, but it appears to violate the genetic code which caused them to be members of the bovine fraternity in the first place," one reader opined, while another likened analysts to "Joe Bloggs down the betting shop getting lucky in the 3.30 at Ascot."

"Most only think as far ahead as their next bonus and seem totally devoid of any intuition or a capability to think strategically," another reader says.

A seasoned banking professional reasons "Yes there are too many analysts, as there are too many investment bankers, news reporters, lawyers, architects, and 'professionals' of all kinds. But that is not to say that they are worthless, only less valuable than they would like to think they are."