Socrates drew his strength from knowing what he didn’t know, but it seems corporate executives get punished by investors when they admit to not knowing something.
Hmm so if a CEO acts like they are wise, like socrates, the analysts spank the share price?? And if the CEO admits to no limits on their wisdom, the share price soars?? V odd.
Suggests that analysts are a bunch of amateurs, and that their Buy recommendations can be treated as a signal to sell (and vv)...
Well, it is very odd, I agree with you because to me admitting to not knowing something is a sign of competence. But working on the sell side for a while now, I can tell you that the sophistication of the average sell side analyst is not as high as I would like it to be...
Reminds me of a talk I saw with Carson Block who said he carefully analyses evasive answers on earnings calls to identify potential shorting opportunities.
Hmm so if a CEO acts like they are wise, like socrates, the analysts spank the share price?? And if the CEO admits to no limits on their wisdom, the share price soars?? V odd.
Suggests that analysts are a bunch of amateurs, and that their Buy recommendations can be treated as a signal to sell (and vv)...
Well, it is very odd, I agree with you because to me admitting to not knowing something is a sign of competence. But working on the sell side for a while now, I can tell you that the sophistication of the average sell side analyst is not as high as I would like it to be...
Nice research.
Reminds me of a talk I saw with Carson Block who said he carefully analyses evasive answers on earnings calls to identify potential shorting opportunities.
That is true and I have a post coming up on that topic later this summer...