“An economist/analyst is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today”.
Laurence J. Peter
Apple’s financial reporting for the 3rd quarter once again displayed how far off Wall Street Analyst’s are with their predictions. The common problem is that an analyst is digging in the past, but has no view and sense for the day after end of quarter. Major events, in the past and much more future events are not considered in an analyst’s work.
One has a hard time to believe that all these analysts in the last six weeks bought the old iPhone, even though their predictions would indicate so. Continue reading