Investors say they are “flying in the dark” as the dispersion of earnings estimates reaches its highest level since 2009
The coronavirus pandemic has upended expectations for corporate earnings and economic growth, so obscuring the outlook for financial markets that some investors say it is as if they are flying blind.
In ordinary times, many investors consider earnings projections a critical factor in determining what shares are worth and look to forecasts for metrics such as gross domestic product to gauge the health of the economy.
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