Salomon was not alone in continuing to recommend Global Crossing's shares deep into the stock's descent.

Even as the company was heading for bankruptcy, most of the large Wall Street firms continued to recommend its shares to the public.

In those messages, Merrill analysts appeared to be disparaging companies in private even as they were recommending their shares publicly.

The company, still recovering from deep and wide-ranging turmoil, has recently installed new management, and Wall Street analysts are recommending its shares, braying that the worst is over.

This practice made it appear that a throng of believers were recommending these companies' shares.

Despite Tri-Continental's troubles, several financial analysts recommend its shares.

Charles R. Wolf, an analyst with First Boston, has continued to recommend Apple's shares, with the understanding that real returns will not come until the fall.

He still believes the company will work out its difficulties, but he is not recommending its shares.

Mr. Rohan, who recommends the company's shares but does not own any himself, said that by nearly every measure Google appeared to be performing well.

Brokerage-house analysts called it a profit machine, and they outdid one another to recommend its shares.