One of the things every investor knows is that the average analyst does not add value.
You refer to “analyst consensus estimates” as well as “buy or sell recommendations of analysts”. These are very different things. Which one was used in the study you cite?
You are right, that was imprecise of me. In the study they use individual analysts’ forecasts.
You refer to “analyst consensus estimates” as well as “buy or sell recommendations of analysts”. These are very different things. Which one was used in the study you cite?
You are right, that was imprecise of me. In the study they use individual analysts’ forecasts.