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Michael Pachter Interview

The Michael Pachter Interview on Eurogamer talks with the analyst about his job as an analyst for Wedbush Morgan Securities, and public perception of the statements he is famed for making about the game industry. When asked about his accuracy, he admits to being wrong frequently: "All the time. All the time. But who cares? I'm glad you asked that question. It's not my job to induce investors to do something, to compel them to action. That's not my job. My job is to make them better informed so they can make better-informed decisions. It would be naive of me and extremely arrogant of me to believe that I'm the only person that they would ever speak to and I'm the only source of data they would ever have."

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10. Re: Michael Pachter Interview May 13, 2010, 01:24 Creston
 
Cutter wrote on May 12, 2010, 14:14:
Christ, investing seems to be the only field where gross incompetence is rewarded.


Nooooooooo. Come on!

- NBA referees.
- Government employees.
- AEP employees.

ehh...

Well, one out of four ain't bad.

Creston
 
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9. Re: Michael Pachter Interview May 12, 2010, 16:48 DG
 
This is the stock market! What matters is you think something before everyone else does. Being right or wrong only affects how quickly you need to exit before your error becomes a mistake.  
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8. Re: Michael Pachter Interview May 12, 2010, 14:14 Cutter
 
Well, seeing as he's wrong most of the time, that informs you to do the opposite of what he advises. If Morgan Securities wants to waste their money paying an incompetent analyst that's their affair. And if they want to risk getting sued for it, that's their business too.

Christ, investing seems to be the only field where gross incompetence is rewarded. I can lose money with the best of them too, maybe I need to start working for these guys.
 
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"The South will boogie again!" - Disco Stu
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7. Re: Michael Pachter Interview May 12, 2010, 13:48 Creston
 
What a fucking tool... Hey Pachter, if your job is to "make them better informed so they can make better-informed decisions," how does that fucking correlate to you being wrong all the fucking time?

Somehow I doubt that WRONG information helps people make better-informed decisions.

Creston
 
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6. Re: Michael Pachter Interview May 12, 2010, 11:24 ASeven
 
Tom wrote on May 12, 2010, 11:19:
If this guy is wrong so much, why do people pay so much attention to him? Are we so desperate for a target of ridicule?

Because he likes to make his name show up on headlines as much as possible.
 
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5. Re: Michael Pachter Interview May 12, 2010, 11:19 Tom
 
If this guy is wrong so much, why do people pay so much attention to him? Are we so desperate for a target of ridicule?  
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4. Re: Michael Pachter Interview May 12, 2010, 11:15 kimbambaman
 
ldonyo wrote on May 12, 2010, 10:59:
How can his being wrong all the time make investors more informed?
Exactly what I was thinking. Actually, that is probably the first accurate thing he has said in a long time.
 
"Everybody out of the universe!" - Nibbler, Futurama
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3. Re: Michael Pachter Interview May 12, 2010, 10:59 ldonyo
 
How can his being wrong all the time make investors more informed?  
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2. Re: Michael Pachter Interview May 12, 2010, 10:13 nin
 
When asked about his accuracy, he admits to being wrong frequently: "All the time. All the time. But who cares? I'm getting paid. And investors think I'm a rock star. I'm glad you asked that question. It's not my job to induce investors to do something, or to cause stocks to swing wildly. That's not my job. My job is to pull wacky ideas out of my ass, so they can make uninformed decisions. It would be naive of me and extremely arrogant of me to believe that I'm the only person that they would ever speak to and I'm the only source of data they would ever have. So I have an out: I can lie out my ass and still look good."
 
http://www.nin.com/pub/tension/
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1. Re: Michael Pachter Interview May 12, 2010, 10:09 ASeven
 
When asked about his accuracy, he admits to being wrong frequently: "All the time. All the time."

You got that right, Patcher, you worthless analyst.
 
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