My research on securities analysts has given me insights that have taught me much about them.
Wall Street gets excited about how companies and analysts estimate earnings and whether analysts can manage to hit their estimates closely, or not at all. In fact, there are strategies based on the percentages of closeness-to-estimates that analysts get.
The sharp pencil folks in the financial community can come up with anything that will attract believers. Their machinations add up to little in the real world. ( See the Earl J. Weinreb NewsHole® comments.)
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