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A stock market question: re "Missed estimates"
I've got a question that's been bugging me. Why does the news media report that a company has "missed estimates", when from my perspective, it's the "professional analysts" who have "missed" in predicting the company's actual performance. Why doesn't the news media report that the analysts' have "missed reality" instead? I'm just curious as to when the analysts' "guesswork" became so newsworthy, and have they ever consistently gotten their predictions right?
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