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The Violent Earnings Season: Price and Value Perspectives
Published 2 months, 4 weeks ago
Description
Every three months, as companies go through the ritual of reporting earnings and the market goes through its own ritual of comparing actual to expected numbers and repricing stocks, it is easy to lose perspective. In this session, I draw a distinction between the value game and the pricing game, and how investors (who play the value game) and traders (who play the pricing game) look at earnings reports differently.
Blog Post: http://bit.ly/1LbJaU9
Slides: http://www.stern.nyu.edu/~adamodar/pdfiles/blog/earningspricevsvalue.pdf
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