Fighting back against the unauthorized trafficking in its analysis, Merrill Lynch says it is instituting a new system for distributing reports to clients. The effort “to regain control of our distribution channels in order to preserve and protect our hard-earned intellectual capital” is outlined in a “Dear Client” message from Candace Browning, Merrill’s head of Global Equities Research & Economics. Browning also takes the opportunity argue that the illicit distribution of her group’s work demonstrates the continuing viability of sell-side research. “I feel like Tom Sawyer covertly present at his own funeral: perversely proud to be there while basking in an inviolable certainty that sell-side research is alive and well,” Browning writes.
Now, don’t you want to help her whitewash that fence?
Browning’s note:
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