RE: Another Major miner22 Feb 2024 10:56
Also adikt, you keep banging on about analysts and there forecasts.
take the time to read this study. one of many, many coming to the same conclusion.
the study looked at the track record of stock market “experts” who predicted the market's direction.
Their findings were eye-popping.
Overall their accuracy rate was only 47%, less than you might expect from random chance.
Jim Cramer, a fixture on CNBC, had an accuracy rating of 46.8% based on 62 forecasts.
Abbey Joseph Cohen, formerly a partner and chief U.S. investment strategist at Goldman Sachs, fared even worse. Her accuracy rating was only 35%, well below the average of 47%.
Another study analyzed a dataset consisting of 6,627 forecasts made by 68 forecasters. It found that while some forecasters did “very well,” the “majority perform at levels not significantly different than chance.”
Overall, only 48% of forecasts were correct.
Over 20 years from 2002-2021, another report (discussed here) found the average difference between target price estimates from stock market “experts” at the beginning of the year and actual prices of the index for the same year was a staggering 8.3%."
like I said, wake up. have you noticed, the share price is back in the 6s.