Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JOI
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

User menu

  • Sample our Content
  • Request a Demo
  • Log in

Search

  • ADVANCED SEARCH: Discover more content by journal, author or time frame
The Journal of Investing
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Request a Demo
  • Log in
The Journal of Investing

The Journal of Investing

ADVANCED SEARCH: Discover more content by journal, author or time frame

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JOI
    • Editorial Board
    • Published Ahead of Print (PAP)
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter
Primary Article

Modeling Analyst Behavior

Ronald N. Kahn and Andrew Rudd
The Journal of Investing Summer 1999, 8 (2) 7-14; DOI: https://doi.org/10.3905/joi.1999.319405
Ronald N. Kahn
A managing director at Barclays Global Investors. He has published widely on investment management. He was director of research at BARRA for many years, and worked on this article while at BARRA. He earned an A.B. at Princeton University and a Ph.D. from Harvard University, both in physics.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
Andrew Rudd
chairman of the board and chief executive officer of BARRA, Inc. He has been associated with BARRA and its predecessors since its inception in 1975. Between 1977 and 1982, he was professor of finance and operations research at Cornell University. He received his B.S. with honors in mathematics and physics from Sussex University in England and holds M.Sc., MBA, and Ph.D. degrees from the University of California, Berkeley.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
Loading

Abstract

Analyst earnings forecasts have formed the basis for many well-known portfolio management strategies. Earnings forecasts over a considerable period of time form large data bases scrutinized by asset managers and academic researchers alike. There has been almost no analysis of how these forecasts are derived. The analysis here suggests a classification of analysts into three categories-leaders, followers, and rebels - and aims to differentiate the independent opinion-makers (in theory, both leaders and rebels) from the followers. Opinion-makers may be influential for two distinct reasons: Their earnings forecast revisions may be accurate and provide significant explanation of subsequent asset returns, or the market may weight their earnings revisions highly out of respect or their celebrated status.

  • © 1999 Pageant Media Ltd

Don’t have access? Click here to request a demo

Alternatively, Call a member of the team to discuss membership options

US and Overseas: +1 646-931-9045

UK: 0207 139 1600

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Investing
Vol. 8, Issue 2
Summer 1999
  • Table of Contents
  • Index by author
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Investing.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
Modeling Analyst Behavior
(Your Name) has sent you a message from The Journal of Investing
(Your Name) thought you would like to see the The Journal of Investing web site.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Citation Tools
Modeling Analyst Behavior
Ronald N. Kahn, Andrew Rudd
The Journal of Investing May 1999, 8 (2) 7-14; DOI: 10.3905/joi.1999.319405

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
Modeling Analyst Behavior
Ronald N. Kahn, Andrew Rudd
The Journal of Investing May 1999, 8 (2) 7-14; DOI: 10.3905/joi.1999.319405
del.icio.us logo Digg logo Reddit logo Twitter logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

Similar Articles

Cited By...

  • No citing articles found.
  • Google Scholar

More in this TOC Section

  • Sharpe Timing Ratio
  • Dividend Yield Investment Strategies, the Payout Ratio and Zero-Dividend Stocks
  • Prolific Authors in Finance
Show more Primary Article
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

MORE FROM PMR

  • Home
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Log In
  • Update your profile
  • Give us your feedback

© 2022 Pageant Media Ltd | All Rights Reserved | ISSN: 1068-0896 | E-ISSN: 2168-8613

  • Site Map
  • Terms & Conditions
  • Cookies
  • Privacy Policy