Fridson (1997)

Fridson, Martin S. "Early Signs of Trouble: Shareholder Responsibility." Financial Analysts Journal, May/June 1997.

In this review of the book Financial Warnings by Charles Mulford, Fridson, then chief high-yield strategist at Merrill-Lynch, comments on institutional biases that may prevent dissemination of relevant quality-of-earnings information, particularly on the sell side, including:

"- [threat of] cutoff of access to management,
- accusations of colluding with short-sellers to trash the company's stock,
- ridicule by sales people whose competitors are racking up commissions in the supposedly tainted shares, and
- screaming fits by investment bankers who hope to be included in the company's next underwriting."