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Whispers Provide Greater Returns, Have Greater Impact
Published, independent, academic studies conclude investor estimates for quarterly earnings (whisper numbers) provide greater returns when used as an investment vehicle, and have a greater impact on stock movement than analysts consensus estimates.
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Earnings 'Surprise' Gamed (WSJ)
These positive surprises are becoming so common they are nearly universal. They are predetermined in a cynical tango-clinch between companies and the analysts who cover them.
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