It's Dead Clear: Nobody Believes Analysts Anymore

Just a reminder — this earnings season is still driving analysts to hike their earnings forecasts. According to Tobias Levkovich at Citi, 72.2% of all stocks’ analyst earnings revisions have been upward so far in May.

But as analysts’ upward revisions have spiked, stocks have plunged:

Chart

(Via Citi, PULSE Moinitor, Tobias Levkovich, 7 May 2010)

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