soverby

First, thanks for that link. I love that blog.

Secondly, I don't know that I have a personal aversion to a "hold" rating. Now, when I was on the sell-side, I hated initiating on anything with a Hold because that usually meant we'd get fewer client calls and trades. And yeah, usually doing all that work to come out as a "hold" typically s*cked so I understand where you're coming from.

But now that I'm on the buy-side, I realize that not everything is going to be a "buy" or "sell" -- it's tough to find something that you'll actually take action on and sometimes there's not enough margin of safety to be anywhere other than neutral on a company.