Analysts Recommendations: Evidence Of A Portuguese Investment Bank

Analysts Recommendations: Evidence of a Portuguese Investment Bank 1. show There is still a lot of controversy on the forecasting ability of analysts. On angiotensin converting enzyme hand, if markets are potent in its semi-strong (or even strong) form, in the sense of Fama (1970), there would be no ground for the existence of question departments as it would be impossible to implement a profitable strategy on the basis of the publicly available information. Yet, some authors claim that judge of analysts forecasting ability in itself should not be taken as a violation of market efficiency if unrivaled cannot implement that strategy effectively.

In other words, finding t hat look for analysts play an important role in disseminating information whitethorn be consistent with market efficiency; only yard of effective trading strategies on the basis of public information, such(prenominal) as research reports or analysts recommendations, should be accepted as contrary evidence. Recent research (see We...If you want to get a panoptic essay, order it on our website: OrderEssay.net

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