Yes but did you have fun doing it:DI believe most of the other previous studies of market analysts were done on major world indices, so its comforting to know that our analysts aren't any worse lol.
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Well yes, I did - but I was as well genuinely interested in the result. And to be honest, while I didn't expected a strong correlation between analyst forecasts and outcomes, I still thought there might be some.
But I guess the old saying (I think from Ben Graham) "nobody can predict stock prices" is clearly the most appropriate guidance to any SP forecast - be it by consensus or not.
it is incredible isn't it
especially when one considers how much beef is created about stock selection
and I thank you for your work thoughquite franklyit doesn't surprise me in the slightest.
BUT, does it make you wanna go further with this notion of no one having a clue!? ? ?
As long as share and stock analysts and firms stick to the brief of analysing previous results, histories and developing strategies suitable for clients they serve a useful purpose but as soon as they start trying to predict future movements, they should be reminded of the poor record humans have in the prediction dept.
"In past bubbles, not only has the growth of the inspirational stock or sector inevitably slowed, but these unique winners have proved to be just that … unique. The frenzied search for the “next …” ended in disappointment and large losses in 1969, 1973, 2000 and 2008. Is it really “different this time”?"
https://www.livewiremarkets.com/wire...ing-narratives