Queen of Internet is full of criticism, why everyone is still in hot pursuit? Internet-investment-IT information
1986 joined Salomon Brothers training courses, Mary Meeker first tried the taste of life.
Meeker middle school looking to Wall Street, when she took part in a stock-picking contest, watching a stock tumbling.
Later, she became an analyst and was crowned "Queen of the Internet". Her popularity in the financial world, no less than a star.
In 1995, Morgan Stanley purchase of a small company Netscape (Netscape) shares in the IPO, the company now is symbol for the ground zero of the Internet age in Silicon Valley (ruins-McCartney): blow the ceiling, Phoenix, but there is no profitability. But then Mick claims to the outside world: it is a great idea. But it was found that Mick and Netscape founder's unusually close relationship, which will have an enormous benefit for Mick. First, prompting Mick to be winners in this exciting new industry on the other, as an investment in buying a stake in the company, she instantly became the Internet's authority.
Four months later, Meeks released a 300-page report, called "Internet". For this report, was Intel's CEO in Hawaii after reading, feel should hug Netscape.
This is an inspirational story, but this one may be a desire to chase greater than ideal. Not only are her own, is Wall Street.
Today, is able to accurately predict Web trends of the Internet publication of the Queen, Internet businesses have run-the-truth "Internet Queen to our industry." This is no accident, but rather the norm, such as sharing many company bosses in this year, the report said that "Internet Queen says that (I) a (s) areas will rise, will become the new operator! ”。
In fact, by 1999, Mary Meeker said first analyst position is laid on the Internet. At the time, almost every Internet industry entrepreneurs, both grew up watching Meeker's Internet report, and thus into the full potential of the industry.
In addition to Netscape's market transactions, John Obi Mikel also first proposed the "page views" online stock analysis index. John Obi Mikel also suggested that e-mail will become the killer application of the Internet services, she predicted more efficient browsing information how will be the next breakthrough, foreshadowed the stage Yahoo and Google's future success.
Rapid growth in the Internet industry of the late 90 's, Meeker's influence was not limited to industry executives and investors, she has become a United States citizen most well-known Internet analyst. Her to recommend the United States online, Dell, Amazon, eBay and other companies, are quickly generated more than 10 times the return on investment.
But with the advent of the dotcom bubble in 2000, Mary Meeker's career has changed. She once recommended stocks, dramatically shrinking.
In May 2001, Fortune magazine published an article, deep 81,999 years when the Internet bubble "Mick". In this "Mary Meeker did wrong" article, Fortune title said she ended up as one of the most talented traders, but the fact that she was supposed to be an independent analyst. Reports that she is nothing but the Internet industry's cheerleaders, responsible for shouting and speculation. Identity of this misplaced make Morgan Stanley, but also destroy the reputation of analysts and the investment industry.
Accused by public opinion, is Mary Meeker, "good word specifically for technology companies, support certain technology-related stocks" behavior. Reported that in 1991, when Mick into Morgan Stanley, she is famous for its beautifully, but "feeling alone", her imaginary potential, mostly bad trends. Today called the "Queen of the Internet", also there are bedecked with black history:
? Mary Meeker had strongly recommended Drugstore.com, and in 2000 the bubble, shares of Drugstore.com peak of 67.5 dollars the previous year, falling to 1.8 trillion the following year, the last for $ 380 million to buy.
? In 2000, Mick dominated the United States's biggest Internet service provider United States online, spend $ 164 billion to buy the media company Time Warner's merger and acquisition transactions. But as the Internet bubble burst in late 2002 United States online time Warner announced losses of nearly 100 billion dollars, into foam loss was highest in company.
? Fortune reported that "some analysts had implicitly guaranteed, in the next operation in the market, they are currently under investigation include the research report will be used to" help "the IPO companies. "So, when the travel booking Web site Priceline.com plunged 96%, Mick and recommended the stock remains firmly bullish, which brings many questions to her work ethic.
Fortune with respect, first report, Mary Meeker, is tantamount to a stock selection guide.
Here, we have to ask: why would she do that? Her criticism, she is not one who will be able to make.
On Wall Street, analysts at investment banks rely on its driving direction. However, Wall Street regulations, in order to maintain the objectivity of the recommendation, it cannot conspire with analysts, for example, if analysts recommend shares of his company, what will happen to the market?
Originally, the Investment Bank's revenue comes from the investor's brokerage fees (investment advice) money, but low so they started to think more of the economic costs to make money, such as studies to help some companies, which earn more money on their investment.
The instigator of the new wealth, is Morgan Stanley. Originally, the analyst is not paid directly to underwriting business, but the investment material continues to be a well-known fact: investment banking staff has great influence on analysts ' bonuses. In 2000, Mary Meeker wrote:
"I most value is the best network to help Morgan Stanley win IPO business. ”
It is understood that the fees charged by investment banks are newly listed companies raised 7%. What is this concept? This means: total IPO of the company for each additional $ 100 million, investment banks will be able to receive US $ 7 million in fees. This was seen, analysts have become industry of parasites.
Damage of interests questions from the investment community.
On August 1, 2001, Mick earlier strongly recommend Amazon and eBay to the indictment in Manhattan Federal Court, two companies accused of Mick and Morgan Stanley provided by eBay and Amazon's conclusions biased.
On August 10, 2001, a representative of United States law firms AOL Time Warner shareholders also Mick made the allegations.
In 2001, Mick been dogged by Wall Street investors two joint actions, she is believed to deliberately send the wrong message, misled investors into buying networking stocks, which brought huge losses to investors. Therefore, the Fortune magazine in a picture published on the cover of Mary Meeker, and with a title of "whether we can trust Wall Street again."
Because of this, New York Attorney General began to assault investigation in the name of protecting individual investors. In this investigation, prosecutors obtained the evidence by some analysts, such as Roger Haight's mailbox, prosecutors found him some of their companies are "shit"; geluboman message displays, he admitted that recommended AT&T equities was due to help put his children into a star nurseries in New York.
But here at Morgan Stanley, and prosecutors have not found similar evidence, Mick's message was also very cautious. Reports that Morgan Stanley "accidentally" destroyed most of the email.
To most analysts, investment banks ' imprisonment huge indemnity to end. Queen, Mick became a bubble survivor. Because of this, everyone "believes Mick only one person"-strong team of analysts at Morgan Stanley.
Would like to say is that since the comeback, Mary Meeker is still sought after by the industry, "reports the Queen", is this why?
互联网女皇满是非议，为何大家都还在追捧？ - 互联网,投资 - IT资讯
1986年加入所罗门兄弟培训班时，玛丽·米克第一次尝试到生活的滋味。
米克从高中起向往着华尔街，那时她参加了一个选股比赛，看着一支支股票在翻滚。
后来，她成为了一名分析师，并加冕“互联网女王”。她在金融界的风靡，不亚于一位明星。
1995年，摩根士丹利认购了一家小公司Netscape（网景）的IPO股份，这个公司如今被硅谷标志为互联网时代的归零地（一片废墟的代称）：吹得天花龙凤，但毫无盈利能力。但后来，米克向外界声称：这是一个伟大的创意。但人们发现，米克和网景创始人的关系异常密切，后者对米克将产生巨大的助益。首先，这促使了米克成为这场令人兴奋的新产业的大赢家；另一方面，作为购买了这家公司股份的投资方，她瞬间成为了互联网的权威。
四个月后，米克发布了一份长达300页的报告，称为“互联网报告”。对于这一份报告，当时正在夏威夷的英特尔CEO读了之后，感觉都应该马上拥抱网景。
这可能是一个励志的故事，但这其中也许是一个欲望大于理想的追逐。不只是她个人，是整个华尔街。
今天，堪称能够准确预测互联网趋势的互联网女皇报告公布，互联网行业纷纷奔走相告——相告“看互联网女皇点到我们行业了”。这种现象并非偶然，而是常态，比如今年许多公司大佬在分享这份报告时都说“互联网女皇说这（我）个（们）领域将会兴起、将会成为新的操作入口！”。
其实，在1999年之前，玛丽·米克几乎说是奠定了在互联网领域第一分析师的地位。而在当时，几乎每个互联网行业的创业者都是看着米克尔的互联网报告成长起来，从而投入到这个充满潜力的行业当中去的。
除了负责网景的上市交易外，米克尔还最早提出了“页面浏览量”等网络类股分析指标。米克尔还提出，电子邮件将成为互联网服务的杀手级应用，她预测如何更为高效的浏览信息将成为下一个突破口，为雅虎与谷歌的未来成功埋下了伏笔。
在互联网行业迅猛增长的九十年代后期，米克尔的影响力不仅限于行业高管与投资者，她已经成为美国民众最为熟知的互联网分析师。她向投资者推荐的美国在线、戴尔、亚马逊、eBay等公司股票，都很快带来了超过十倍的投资回报。
但随着2000年互联网泡沫的到来，玛丽·米克的职业生涯也发生了变化。她曾经推荐的股票，都大幅度地缩水。
2001年5月，《财富》杂志发表了一篇文章，深八1999年互联网泡沫时的“米克”现象。在这篇“玛丽·米克错在哪里”的文章中，《财富》标题便指出：她最后成了一个最能干的交易人，但事实上，她本来应该是一名独立的分析师。报道指出，她只不过是互联网行业的啦啦队，负责呐喊、炒作。这样的身份错置成就了摩根士丹利，但也毁掉了分析师和投资行业的名声。
舆论所指责的，是玛丽·米克“专门为科技公司美言，拥护某些科技股”的行为。报道指出，1991年米克刚刚进入摩根士丹利时，她以文笔优美著称，但是，“内容只靠感觉”，她臆想出来的潜力股，大多走势不佳。今天大家尊称的“互联网女皇”，也有那么一些颇有微词的黑历史：
• 玛丽·米克曾大力推荐Drugstore.com，而在2000年的泡沫中，Drugstore.com的股价从前一年67.5美元的高峰，跌至次年的1.8美元，最后被以3.8亿美元收购。
• 而在2000年，米克主导了美国最大的网络服务提供商美国在线，斥资1640亿美元收购媒体公司时代华纳的并购交易。但随着网络泡沫破灭，2002年末美国在线时代华纳宣布亏损近1000亿美元，成为泡沫中亏损最高的公司。
• 《财富》报道称，“某些分析师曾经含蓄地保证，在接下来的市场运作中，他们将利用目前正在调研撰写的研究报告来“帮助”这些IPO公司。”所以，当年旅行订票网站Priceline.com即使已经暴跌了96%，米克依然坚定地看涨并推荐该股，这给她的职业道德带来许多质疑。
《财富》直言，玛丽·米克的第一份报告，无异于一份选股指南。
到了这里，我们不禁要问：她为什么要这么做？女皇的非议，并非她一个人就能制造出来的。
在华尔街，投行会依靠旗下分析师意见带动风向。但是，华尔街规定，为了保持建议的客观性，投行不能与分析师串通，比如，假若分析师向你推荐自己公司承销的股票，市场将会怎样？
本来，投资银行的收入来源于投资人的经纪费用（提供投资建议赚钱），但是，经济费用的低廉让他们开始想着更多的生财之道，比如利用研究报告帮助某些企业，进而让他们投行赚更多的钱。
这种新型生财之道的始作俑者，便是摩根士丹利。本来，分析师是不会直接拿到承销业务酬劳的，但投行物质奖励仍然是众人皆知的事实：投行业务人员对分析师的年终奖有巨大的影响力。2000年时，玛丽·米克写道：
“我的最大价值就是帮助摩根士丹利赢得最好的网络IPO业务。”
据了解，投行收取的费用是新上市公司融资额的7%。这是什么概念呢？这意味着：公司IPO总值每增加一亿美元，投行就能收到700万美元的佣金。这在外界看到，分析师也成了行业的寄生虫。
利益的受损引起了投资界的质疑。
2001年8月1日，米克早年大力推荐的亚马逊和eBay向曼哈顿联邦法院提出了起诉，两家公司指控米克和摩根斯坦利公司所提供的对eBay和亚马逊的研究结论存在偏见。
2001年8月10日，一家代表美国在线时代华纳股东的律师事务所也对米克提出了指控。
2001年，米克连续遭到华尔街投资者的两起联合诉讼，她被认为故意传递错误的信息，误导投资者购买网络公司股票，从而给投资者带来了巨大损失。因此，《财富》杂志曾在某期封面上刊登了玛丽·米克的照片，并配以标题“我们是否能再信任华尔街一次”。
因为如此，纽约州总检察长开始以保护个人投资者的名义展开突击调查。在这次调查中，检察官获得了某些分析师的证据，比如在罗杰特的邮箱中，检察官发现他直言自己推荐的一些公司是“狗屎”；格鲁伯曼的邮件则显示，他承认之所以推荐AT&T的股票，是由于对方帮忙把他家孩子送进纽约的一间明星托儿所。
但在摩根士丹利这里，检察官找不到类似的证据，米克的邮件也十分谨慎。报道称，摩根士丹利“不小心”销毁了大部分电邮。
事件以大部分分析师入狱、投行巨额赔款为终结。而女皇米克，成为泡沫后的幸存者。也因为如此，大家“只相信米克一个人”——在摩根士丹利那么雄厚的分析师团队中。
想说的是，复出以来，玛丽·米克仍然是业界追捧的“报告女王”，这又是为什么呢？