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December 30, 2008

Following up on Morningstar's claim that Forest City Enterprises stock would be worthless

Atlantic Yards Report

When Morningstar recently said that Forest City Enterprises stock was likely worthless, it took several days--even after it was picked up by the Washington Post--for FCE to respond forcefully, plausibly stressing that the consensus of other financial analysts was that the stock should be a buy.

Since then, there's been some interesting criticism from an anonymous financial analyst commenting on Cleveland journalist Jill Miller Zimon's blog Writes Like She Talks.

Basically, the anonymous financial analyst doesn't think that the young Morningstar analyst has the experience or expertise to pan Forest City Enterprises's stock, which still doesn't answer the original question, "Why did it take Forest City Enterprises so long to respond?"

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Posted by lumi at December 30, 2008 5:15 AM