Before Tuesday’s Q1 2011 earnings call, Fortune issued a score card ranking various analysts’ predictions (both pro and amateuralike) on how Apple would do this quarter
Now the results are in, and across the board, the amateurs did far better predicting Apple’s results than the professionals at the brokering houses and banks.
It’s not even close, either. Once ranked, the bottom twenty spots in scorecard accuracy all go to professionals being paid for their insight and accuracy. On average, progessionals were off by a 9.04% margin. Meanwhile, nine out of the ten amateurs made the top ten, and overall were only over by a little under 4%.
Jeez. And to think we bailed out these bozos. Based upon these results, it looks like the average investor would be better off cracking open a blog than employing a pro.