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COPYRIGHT 2003 Adams Business Media
Kaufman Bros.
While the markets continue to muddle along, keeping a sharp focus remains the game plan for New York's Kaufman Bros. (KBRO). Founded in 1995, the boutique shop draws on its team of industry veterans and strategic partners to provide in-depth, insightful analysis on emerging telecom companies.
When Buyside last spoke to the KBRO team in August 2002 it was just before the well-publicized implosion of telecom powerhouse WorldCom. Sell-side research was already under fire thanks to other high-profile cases involving corporate fraud and tainted research. "The difference between then and now is that there has been structural forces applied to the sell side by regulators and a general sentiment towards the business that has forced a lot of larger shops to scale back, reduce their efforts, and focus more on the large-cap names," says Research Director Vik Grover. "There are very few sell-side firms focused on the small- and mid-cap emerging growth stories, so it's created more opportunities for us."
While covering the communications arena certainly has its challenges, Grover is optimistic. "There's reduced interest in the space from investors, but longer term the changes on Wall Street and the consolidation within the tech sector positions this firm well. That's why we can continue to grow our research efforts--we're now up to nine analysts."
Grover covers wireline and wireless services and has been ranked in The Wall Street Journal's "Best on the Street" poll for 2000 and 2001 and was a top 10 most-read analyst in North America (all industries) on First Call Research Direct in 2001 and 2002. "A lot of the issues that plagued the sector a year ago are still there, although we're working through many...
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