Ever wonder why analysts earning predictions usually hover around roughly the same figures? The guys over at J.P. Morgan Asset Management (JPMAM) did, and their answer has nothing to do with the numbers.
"Herding is the [behavioural finance] concept that all of us are comfortable in a pack," JPMAM head of the Dynamic fund range team Jon Ingram told delegates at a Morningstar conference. "Herding is...
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