I wonder why I get all worked up when I see utterly bizarre Sensex EPS estimates. Basically, the modus operandi seems to be:
Pick a number out of
- Blurt it out on TV or other media with a tie on, and carry the name of big-name finance company.
In the Sensational Sensex EPS Story, in July 2008, I noted that projections of the Sensex EPS between Feb and March 2008, for the EPS ending March 2009 (note: nearly two years ago) was 1000. Four big name fellows said so. Where were we at the end of March 2009?
750. The Sensex EPS was Seven hundred and fifty. A full 25% below what they thought just one year earlier.
The Senseless Sensex EPS Prediction story continues.