Shares of Merrill Lynch & Co. fell more than 7% Friday, retreating in the face of a Wall Street Journal report that the company has engaged in deals with hedge funds to delay when it had to record losses on risky mortgage-backed securities.
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Wow, check out their performance. Looks like
MER has had solid growth over 5 years, but in the last year they've been on a downward slide that appears sure to continue downward. In the long run, I suspect they'll recover. But they're almost sure to go lower over the next 6-12 months.
