Fade the experts

This is an interesting chart for anyone who wants to follow the talking heads of Wall Street. They are an optimistic lot with most of their forecasts fall below their consensus. In fact, if you fade Wall Street you may have a winner. Experts, as usual, get it wrong and you are at risk when you follow their advice. This is another clear reason for doing your own work and following systematic models which do not have the biases of qualitative forecasts.