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Stock Price Forecast Accuracy and Recommendation Profitability of Financial Magazines

Faculty of Economics and Social Sciences, University of Potsdam, 14482 Potsdam, Germany
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Int. J. Financial Stud. 2019, 7(4), 58; https://doi.org/10.3390/ijfs7040058
Received: 17 July 2019 / Revised: 17 September 2019 / Accepted: 19 September 2019 / Published: 1 October 2019
(This article belongs to the Special Issue Personal Finance)
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. View Full-Text
Keywords: buy recommendations; financial magazines; forecast accuracy; MSCI World; recommendation profitability buy recommendations; financial magazines; forecast accuracy; MSCI World; recommendation profitability
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Tiberius, V.; Lisiecki, L. Stock Price Forecast Accuracy and Recommendation Profitability of Financial Magazines. Int. J. Financial Stud. 2019, 7, 58.

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