CIBC Downgrades…CIBC

by Johnny Debacle

CIBC May Take $4.1 Billion Writedown, CIBC Analyst Says (headline has changed but the original was as we laid out). This just speaks to credibility of CIBC’s (NYSE: CM) equity research department!! ….or the fact that their equity research department just got laid off.

Recommendation: Short the employment status of anyone who downgrades their own firm’s stock; double short any company who puts their employees in a position where they would have to do so.

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