Random Walk

Random Walk

Analysts are almost always too optimistic about earnings

Forecasting is hard

Moses Sternstein's avatar
Moses Sternstein
May 22, 2025
∙ Paid

Publishing note: Random Walk is going to experiment with a different publishing cadence over the next few weeks (more details forthcoming). I will endeavor to trade some frequency for depth, at least some of the time.

  • A history of downward revisions

  • three exceptions to the rule

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