It’s hard to flip through a newspaper these days without reading about what experts from Moody’s Investor Service have to say. Comments can be read regarding real estate markets, financial products, economic trends, the auto industry and more. A Moody’s independent financial advisor is skilled in assessing bond and stock info to come up with an industry portrait that strives to minimize risk for investors. Even though these ratings are not always perfect and investment money may be lost, this 100-year-old company is still considered one of the gold standards in risk assessment today.
The primary job of Moody’s Investor Service is to provide ratings on stock products, bonds and financial commodities. Investors (either individuals or businesses) who wish to sink their dollars into something usually check the rating system first before deciding how much to invest or where to put their money. In addition to investment advisory services, Moody’s also “publishes investor oriented credit research, including in-depth research on major debt issuers, industry studies, special comments and credit opinion handbooks,” www.moodys.com reports. This information often affects buyer purchasing decisions, such as when to buy a new automobile, when to buy real estate or what sort of investments they should sell off.
Some people have argued for reform of Moody’s Investor Service and other rating agencies like it. “Ratings services still exert significant influence, if only because clients still adhere to old methodologies,” William H. Gross of the Pacific Investment Management Company (PIMCO) told the NY Times in an email. Some argue that a government advisory council should oversee the rating process, since, in the end, it is the government that winds up bailing out these failed financial institutions like Lehman Brothers. Others say the issuer-payer model that was introduced in the seventies needs to be eliminated because it’s a conflict of interest.
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