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1/ We are in results season and there is a mad rush to attend concalls and be on top of every number published. But what value does this info provide? My views in this thread
2/ The vast majority of questions in concalls are clarifications, short term (ST) related (next Q, year end), tactical numbers (eg. what margin, growth rate, capex, etc). Some are even focused on abscure matters like depreciation!
3/ The real reason for these qns is that the analyst is focused on his job — ie to update his excel model which will spit out a (mostly 12M) price target. The entire construct is ST focused.
