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Earnings Surprises: The Stock Market’s Worst-Kept Secret
The expectations game is obviously rigged, but investors are playing along anyway.
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When Analysts Sober Up
Every year like clockwork, stock analysts start out bizarrely optimistic about future results, then “walk down” their forecasts as the actual earnings announcements draw closer.
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Why You Shouldn’t Buy Those Quarterly Earnings Surprises
“Earnings surprises” aren’t surprises at all; they are a game. Don’t get played.