Table: Indie Research Isn't a Cure-All

With the explosion in independent research startups, many seem hastily conceived and some fly-by-night

-- Many hire analysts with little or no track record, raising questions about the quality of their research

-- Some base their analysts' pay solely on how much trading volume their reports generate

-- Others sell their reports to hedge funds and other pros who trade off the information well before it's available to the public

Data: BusinessWeek

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