I have often said and I repeat: The majority of securities analysts on Wall Street could not operate a pushcart. Yet, they constantly critique top business executives in the way they run multi-billion dollar companies.
Moreover, Wall Street analysts and other designated experts have an extremely limited time frame. While a business must look years ahead, those involved with Wall Street securities usually operate with much shorter perspectives.That can be dangerous for those longer-term investors who permit themselves to be impressed by the advice.
No Wall Street commentator or analyst has had to pass a genuine business-achievement test to determine expertise. The public assumes critics know what they are talking about when it comes to financial business operation punditry. ( See the Earl J Weinreb NewsHole® comments.)
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