The decision by UBS to perform elective surgery on its own investment bank can be partly attributed to pressure from bank-stock analysts. It might be premature to hail the dawning of a new age of the analysts, but a group who had become best known for astonishingly inaccurate stock forecasts and fawning attitudes to bank CEOs has at least begun to redeem itself.
Jon Macaskill,
November 29, 2012