By Chris Bailey of Financial Orbit | Thursday 28 April 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Very, very occasionally applying some of the techniques applied by the ‘teenage scribbler’ analysts in the formal and overpaid analyst sector can be useful. Today’s numbers from Lloyds Bank (LLOY) is a good example. As I write the shares have dumped today because today’s Q1 trading update contained some profit numbers that did not meet hopes. Actually to be more precise some complex buying back of bonds has complicated the reported numbers. The ‘teenage scribblers’ have called it a ‘miss’ and down the shares go. However - as is the way with analysts – those same scribblers after a bit of reflection will crank out their formal number crunching and conclude the stock is ‘cheap’. In short the voting machine is cautious whilst the weighing machine gets more optimistic.
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