Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/257656 
Year of Publication: 
2019
Citation: 
[Journal:] International Journal of Financial Studies [ISSN:] 2227-7072 [Volume:] 7 [Issue:] 4 [Article No.:] 58 [Publisher:] MDPI [Place:] Basel [Year:] 2019 [Pages:] 1-8
Publisher: 
MDPI, Basel
Abstract: 
In this study, we analyze the forecast accuracy and profitability of buy recommendations published in five major German financial magazines for private households based on fundamental analysis. The results show a high average forecast accuracy but with a very high standard deviation, which indicates poor forecast accuracy with regard to individual stocks. The recommendation profitability slightly exceeds the performance of the MSCI World index. Considering the involved risk, which is represented by a high standard deviation, the excess returns appear to be insufficient.
Subjects: 
buy recommendations
financial magazines
forecast accuracy
MSCI World
recommendation profitability
JEL: 
G11
G17
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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