Short-termism

Jul 19, 2006

I could never understand the logic of multibillion-dollar corporations with tens of thousands of employees, in offices around the world, offering quarterly earnings estimates. How is it possible that they are able to provide an exact number for their earnings every quarter? Even more puzzling, how is it possible for securities analysts to even target what earnings are going to be every quarter? There are so many different variables that it seems impossible to predict, yet many times analysts hit the nail on the head right down to the penny!

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