Smarter than the Apple Analysts?

January 20, 2011

As you may recall, last Spring, I held a contest, “Are you smarter than an economist?” My two winners, who received $1,000 each for their on-target predictions, were “ordinary” people–well, definitely not economists.

Now, according to, financial bloggers did better than professional analysts in predicting Apple’s revenue, earnings, gross margins, and unit sales for Q1 2011.

Hmmmm…what does this say about professional economists and stock analysts?