“‘Well, that was quite embarrassing!’ writes ‘deagol,’ a widely read amateur analyst whose estimate of Apple’s (AAPL) fourth quarter earnings fell 16% short of the record profits the company reported Monday,” Philip Elmer-DeWitt reports for Fortune
“The irony is that deagol, who filed a long post-mortem mea culpa on his website Monday night, had less to be embarrassed about than 18 of the 19 Wall Street analysts we polled in advance of Apple’s fiscal 2009 4Q earnings report,” Elmer-DeWitt reports.
Elmer-DeWitt continues, “Once again, the amateurs and independents out-performed the professionals in our quarterly Apple analyst bake-off.”
Full article, with the “Analyzing-the-Analysts” chart showing who’re the best and worst AAPL analysts, here.
MacDailyNews Take: Plumbers require more certification than Wall Street analysts, who, as far as we can tell, require none at all. No offense meant to plumbers; all possible offense meant to so-called “analysts,” many of whom we consider to be charlatans at best and market manipulating scam artists at worst.
[Thanks to MacDailyNews Reader “JES42” for the heads up.]
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