Consensus
Fundamental analysisThe average of published analyst estimates for a company’s future earnings or revenue.
In plain terms
Useful as a benchmark for what is already priced in, not as a forecast. Being right with the consensus pays nothing.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Consensus estimate
Fundamental analysisThe average of analysts' forecasts for a company's earnings or revenue.
In plain terms
Matters not because it is accurate but because it is what the price already reflects. Good results below consensus still fall.
Consensus view
Risk & psychologyWhat the market currently believes and has already priced.
In plain terms
You cannot know whether you disagree with it until you can state it. Being right about the consensus pays nothing.
Variant perception
Risk & psychologyA view that differs in a specific, articulable way from the market consensus.
In plain terms
The only thing that pays. Agreement, however correct, is already in the price.