Wall St forecasting shades
They say you dont need analysts in a good market and they will kill you in a bad one. I’ve been watching stocks since the Lincoln administration and I find this to be overwhelmingly true.
By way of example (there are thousands by the way), this morning Wedbush cut GPRO stock price to $18 from $33. Thanks for that, the stock is 11 in premarket, down about 30% overnight.
Yesterday, another oracle from some white shoe firm said “we are cutting BLUE to reduce, but still think it will double”. Learning string theory while drunk on Fireball is easier to figure out.
They are great entertainment during crashes too.
Its a cover your ass mindset with these guys. They run in herds and chat all day on Bloomberg terminals. They mostly suck at their days jobs, which is picking stocks.
Watch your PEG ratios today.
And for Gods sake, get a subscription here, we’re killing this market.
