> Just heard on the news. On averege
>
> *ONE PERCENT*
>
> of the recommendations made by Wall St. analysts is correct in direction.
>
I'm always highly skeptical of reports like that. Who arrived at that
statistic and how?
In an efficient market like the stock market it is impossible to beat the
market average _systematically_ (you can still get lucky). If it is in fact
true that one percent of the analysts' recommendations go the right way,
then one could systematically beat the market average by doing the opposite
of what they say. Claims like that send my bullshitometer off the scale.
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