Unmasking Wall Street's Research Dilemma

18 Dec 2025 · 1 min

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Wall Street banks suppress better analysis tools when they'd expose bad deals. Goldman Sachs wouldn't promote a stock model that made Beyond Meat look terrible before its IPO. Credit Suisse shut down one analyst for raising this conflict of interest, and banks invented fake metrics like community adjusted EBITDA to dodge real scrutiny.

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They have no desire for this technology. I guess that's a better answer. Yeah. I mean, once Goldman Sachs says, hey, we got this new better way to analyze stocks. And yeah, and you should take a look at it. It's really cool. It does all this work. And then, you know, Beyond Meat says they're going to do an IPO. And Goldman's like, yeah, we'll do the IPO. Like, okay, what is— how does our stock look in your system? Oh, it looks terrible. Whoops. This is going to get in the way of doing freaking more business. This is part of why the tech people back at Credit Suisse days made sure I got kicked out of the room. And it's not something— it's not like you put that cat back in the bag. Once you start it, once you say, oh, there's a new better model, everyone should use it, then you can't be like, well, except for this company. Now, this one's special. We got a new number, it's called community adjusted EBITDA. That's what you want to focus on.