FYI: I recently came across an interesting paper, published in March 2018 on SSRN, titled “How Skilled Are Security Analysts?”, that found a large majority of the nearly 5,000 equity analysts it examined between 1993 and 2015 appeared skilled. Consistent with prior literature, the authors, Alan Crane and Kevin Crotty, of Rice University, also found:
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-different-types-skill?nopaging=1
