Pachter: Only The Fanboys Care If I'm Right Or Wrong
An analyst's job is simple (yet complex): tell journalists and investors what he thinks. ...it has nothing to do with catering to the biased crowds.
Industry analyst Michael Pachter spoke to Game Informer about the subject, and said his job doesn't really involve dealing with rabid fanboys. He reminds us that he has "no stake" in his predictions and essentially, isn't personally invested in his forecasts, so personal attacks are unwarranted. Said Pachter:
"My job is not to talk to journalists, it's to talk to investors. If I say that a Wii HD is coming, it outrages fanboys who think that Nintendo always knows better, but it doesn't particularly outrage investors.
There are a handful of readers who make personal attacks, and I would tell them that I have no stake in the outcome of anything I talk about (I don't even invest in the companies I cover), and most of what I say is just opinion. I don't say things because I hope they come true; I say them because I think they will come true."
He goes on to say that his job is to nail the "big picture," so if he's wrong on a few smaller, less significant things, it doesn't really matter. And it's not that he can't admit when he's wrong; in fact, he's pretty up-front about it:
"I don't think I've gone a week without having an incorrect prediction. Nobody cares if I'm right, except fanboys. My clients are merely looking for a benchmark in front of numbers so that they can assess whether the stocks of the companies I cover will go higher or lower."
Well, the fanboys will always use sales numbers and predictions from professionals to bolster their blind positions but in all honesty, we're surprised Pachter noticed at all. Fanboys only make personal attacks; it's what they do; they're hateful, hostile, insecure people. ...why even bother with them?
12/23/2010 9:12:09 PM Ben Dutka