What are analysts really good at?

• Main Authors: WANG, Rong, MADUREIRA, Leonardo, ZACH, Tzachi
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2013
• 主題: Analysts; Benchmarks; Stock Picking; Industry Picking; Market Timing; Corporate Finance; Finance and Financial Management
• 在線閱讀: https://ink.library.smu.edu.sg/lkcsb_research/5926; https://ink.library.smu.edu.sg/context/lkcsb_research/article/6925/viewcontent/SSRN_id1961199.pdf

Sell-side analysts employ different benchmarks when defining their stock recommendations. For example, a ‘buy’ for some brokers means the stock is expected to outperform its peers in the same sector (“industry benchmarkers”), while for other brokers it means the stock is expected to outperform the m...