Analysts Look at Different Data when Estimating UofM Sentiment
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Congratulations, you may have just lost money.
That is, if you put your faith into analyst forecasts.
A revealing chart shows just how far off ALL analysts were from the University of Michigan consumer sentiment index, that's to one astute Twitter user @Not_Jim_Cramer (we checked, he's not).
The closest forecast for last week was for 68.0. The prize will have to be split by two analysts.
So the question is, what numbers are analysts looking at?
LaVorgna refers to Joe LaVorgna...this guy.
That is, if you put your faith into analyst forecasts.
A revealing chart shows just how far off ALL analysts were from the University of Michigan consumer sentiment index, that's to one astute Twitter user @Not_Jim_Cramer (we checked, he's not).
The closest forecast for last week was for 68.0. The prize will have to be split by two analysts.
So the question is, what numbers are analysts looking at?
LaVorgna refers to Joe LaVorgna...this guy.
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