In today's edition of the Daily Update, Multex Investor director of
investment research Marc Gerstein encourages members to block out the
noise of earnings consensus and focus instead on the big picture.

But while corporate management usually tries to beat or meet consensus
forecasts, Dave Sterman explains why a pair of telecom equipment
manufacturers may be purposely dampening expectations.

Members can also take advantage of the free Morgan Stanley research
trial, available exclusively to Multex Investor members, to read the firm's
opinions on Bristol-Myers Squibb (BMY).

You can also see the most popular tickers and sectors searched by your
peers by clicking here:
http://www.multexinvestor.com/cs_hot.asp?target=/stocks/companyinformation/analystresearch/whatshot&nd=0104

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Below
--------

- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports


Investment ideas
-----------------------------------------

1. INVESTMENT IDEAS
Dampening the mood
Why Nortel (NT) and Lucent (LU) may be playing the reverse-
psychology game

By Dave Sterman, equity research columnist

Lucent Technologies (LU) and Nortel Networks (NT) delivered their
twisted versions of holiday cheer in recent weeks, telling analysts that
sales are slowing yet further, and admitting that forward-looking
estimates will have to come down--yet again.

But with their shares languishing in single-digits despite a broad year-
end Nasdaq rally, analysts have been softening their positions, even to
the point of seeing silver linings in these recent whipping-boy stocks.

Indeed, some analysts believe that the beleaguered telecom equipment
vendors may be deliberately dampening investor enthusiasm and even
underreporting or delaying booking some revenues in order to boost
March 2002-quarter results (and make for easier December 2002
comparisons to boot).

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5619&nd=0104


2. INVESTING STRATEGIES
No noise
Silence is golden, both for meditation and investing

By Marc Gerstein

This word, stream, is crucial. Remember it. Write it down on a little slip
of paper and paste it on your computer monitor so you can see it any
time you read an article or research report dealing with company
earnings (or EPS). Any time you hear or read the word "earnings," edit it
in your own mind so that it changes to "earnings stream." This is
essential for you to make truly rational earnings-based investment
decisions.

Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5591&nd=0104

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Broker and third-party reports
-----------------------------------------


1. INVESTORS' CHOICE: 3-DAY FAVORITE
The 451 discusses Cisco's (CSCO) new focus on the mobile wireless
market.

This report examines IP infrastructure spending, the next-gen
Internet and network architecture layers, Cisco's strategic
alliances and mobile business customer targets, and advanced e-
services and content applications. (2-page report for purchase -
$5)
http://www.multexinvestor.com/download.asp?docid=5676705&nd=0104


2. TODAY'S SPECIAL REPORT
Friedman, Billings, Ramsey explains why it sees the next 2 months
as critical for natural gas.

FBR analyzes the supply/demand situation for natural gas
suppliers, with discussion on recent weather and the sector's
macro-outlook. The firm supplies over 10 charts and figures that
depict current pricing trends. (6-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25907191&nd=0104


3. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
CIBC discusses the latest developments in broadband and fiber optic
communications.

In the report, a review of the Comcast (CMCSK) deal and possible
beneficiaries, the latest on JDS Uniphase's (JDSU) business, the
disappointment at Terayon (TERN), a warning from Juniper (JNPR), and
news from Level 3 (LVLT). (6-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25884720&nd=0104


4. THIRD-PARTY REVIEW
Ford Investor Services pits 5 pure Internet companies against one
another.

In graph form, Ford compares various fundamental stats of AOL
Time Warner (AOL), CMGI (CMGI), DoubleClick (DCLK), Yahoo!
(YHOO), and Earthlink (ELNK). The graphs look at growth rates,
earnings ratios, sales data, and more. (3-page report for purchase
- $4)
http://www.multexinvestor.com/download.asp?docid=1770635&nd=0104


5. WHAT'S HOT?
Lehman Brothers reviews the 2002-03 financial prospects for industrial
giant General Electric.

Lehman discusses its outtake following a recent analyst dinner with CEO
Jeffrey Immelt. It touches on forward-looking business initiatives, the
2002-03 EPS outlook, economic uncertainty, and offers an investment
opinion. (3-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=3802670&nd=0104


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Online advice and chats
-----------------------------------------

1. ASK THE ANALYST
PowerPlusOptions.com's Victor Schiller discusses how to
successfully hedge stock purchases.

Using an example involving Microsoft (MSFT), Schiller explains
how selling out-of-the-money covered call options helps mitigate the risk
involved with being long stocks. You can ask him your questions
regarding options until Mon. Jan. 7. Ask the analyst.
http://www.multexinvestor.com/AskTheAnalystForm.asp?&nd=0104

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Compare, Analyze, and Make Money On Option Investments...And it's
Guaranteed. Click here http://www.poweropt.com/mtx1


2. ASK THE EXPERT
Insurance.com's Ronald E. Newton discusses life insurance coverage
issues brought up by divorce.

Newton explains the importance of reviewing insurance coverage in the
midst of divorce to protect loved ones should catastrophic events occur.
Do you have all the coverage you need? He can take your questions until
Thurs., Jan. 10. Ask the expert.
http://www.multexinvestor.com/AskTheExpertForm.asp?&nd=0104


Free and sponsored reports
-----------------------------------------

1. FREE RESEARCH REPORT
SunTrust Robinson Humphrey offers its predictions for the
2002 market.

SunTrust's chief strategist discusses the economy, market
valuations, portfolio/sector strategy, and 9/11 financial market effects in
this Q&A/interview format report. This 12-page report, which usually
sells for $25, is free to members for the next 72 hours.
http://www.multexinvestor.com/download.asp?docid=25843175&nd=0104


2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $65 price target for "strong buy" rated Bristol-
Myers Squibb (BMY).

The firm views the risk/reward tradeoff for BMY "as among the most
favorable in the group," and lays out its key investment positives and risk
factors. Read about a potential blockbuster drug and other issues by
registering for the firm's free research trial.
http://www.multexinvestor.com/download.asp?docid=4533945&sid=8&nd=0104

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Be sure to check out our other newsletters, The Internet Analyst
and The Telecomm Analyst by Multex.com. The newsletters will
inform, educate, and entertain you with usable investment data,
ideas, experts, and info about the Internet and telecommunications
sectors. To see this week's issue,
click here:
http://www.thetelecommanalyst.com/ or
http://www.theinternetanalyst.com/