One of the things every investor knows is that the average analyst does not add value. Following buy or sell recommendations of analysts isn’t going to lead to outperformance in the long run. Or does it? An interesting new study by Vitor Azevedo and Sebastian Müller
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 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?