I understand it well. If they (and founders) don't sell--and they can't easily without causing a major share drop--then the shares available are limited so the

I understand it well. If they (and founders) don't sell--and they can't easily without causing a major share drop--then the shares available are limited so the price goes up for those that want them. If what you say was the case, why would investment banks spend all that money for researchers? Sure big financial investors and mutual funds do their own research up to a point? Do you think Citibank would buy based on Henry Blodget's 'research' http://www.sec.gov/news/press/2003-56.htm http://www.sec.gov/news/press/2003-56.htm ?