But take the 2000 Dot-Com bubble case, if we really have to identify someone who was more responsible than others, it seems it may be the sell-side analysts. The primary party at fault would be underwriters because they helped inefficient companies go through the IPO and advertised for them, even though they knew the company was overvalued and under-performing.
But take the 2000 Dot-Com bubble case, if we really have to identify someone who was more responsible than others, it seems it may be the sell-side analysts. The primary party at fault would be underwriters because they helped inefficient companies go through the IPO and advertised for them, even though they knew the company was overvalued and under-performing.