Shortage of prophets
America's equity research may be the best in the world. Big deal
FOLLOWING the long investigations and the terrible press, it sounds incredible. Yet a study by two business-school academics* concludes that equity-research analysts in America do a half-decent job—better than their counterparts in other markets. Second place goes to Japan, another country whose stockpickers are often disparaged. And the rest? Nowhere.
This article appeared in the Finance & economics section of the print edition under the headline “Shortage of prophets”
From the July 12th 2003 edition
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