Fading the Analysts

The WSJ had a piece recently on how stocks with the highest proportion of “Sell” ratings outperform stocks with the highest proportion of “Buy” ratings. Good contrarian fun — and the sort of thing portfolio managers used to gleefully throw at me back in my analyst days:

[Update] A few folks have pointed out that Mark Hulbert has a good rebuttal here.

Comments

  1. Well, they’re not all that bad…at least not according to Mark Hulbert’s rebuttal. http://tinyurl.com/auc48