Diagnostic Expectations and Stock Returns
We revisit La Porta's finding that returns on stocks with the most optimistic analyst long-term earnings growth forecasts are lower than those on stocks with the most pessimistic forecasts. We document the joint dynamics of fundamentals, expectations, and returns of these portfolios, and explai...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Ltd
2019
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| Online Access: | View Fulltext in Publisher |