I am becoming more and more concerned about reporting standards. During this December break, for example, I read an article which was quoted in quite a few newspapers that the international site, Bloomberg, had predicted that Anglo American shares would go up 33% in 2011.

When I went to the Bloomberg site to read this wonderful prediction, with regard to a share that I do have an interest in, I was astounded to discover that there was no article, but a simple three line report that Absa Bank had in fact predicted that Anglo’s share would be up 33% in 2011. There is a vast difference between Bloomberg making a prediction and Absa Bank making a prediction and ever since Absa Bank Unit Trust was selling Foschini’s shares at R6,00, at the same time that Allan Gray were recommending the shares to buy, and it subsequently rose to R60,00, I have not had any time for any predictions that Absa make.
The reporter, instead of saying that Bloomberg had suggested that the shares would rise 33%, should, if they wanted to mention Bloomberg at all, have mentioned that Bloomberg simply quoted an Absa prediction and Bloomberg themselves have said nothing of the sort.