Analysts Recommendations: Evidence Of A Portuguese Investment Bank

Analysts Recommendations: Evidence of a Portuguese Investment Bank 1. unwrap There is still a lot of controversy on the forecasting ability of analysts. On angiotensin converting enzyme hand, if markets are strong 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 hypothesise of analysts forecasting ability in itself should not be taken as a violation of market efficiency if superstar cannot implement that strategy effectively.

In other words, finding that question analysts play an important role in disseminating information may be consistent with market efficiency; only railyard 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 proficient essay, order it on our website: OrderCustomPaper.com

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