Bruijn, Bert de; Franses, Philip Hans - In: Journal of risk and financial management : JRFM 11 (2018) 3, pp. 1-20
We constructed forecasts of earnings forecasts using data on 406 firms and forecasts made by 5419 individuals with on … average 25 forecasts per individual. We verified previously found predictors, which are the average of the most recent … this property is not persistent over time. Hence, a user of the forecasts cannot trust that the forecaster will remain to …