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Professor Baruch Lev explains why traditional measurements of company earnings are outdated

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Excerpt from Bloomberg -- "... [It] is not just that we claim that earnings don't matter. We actually prove it. In a recent article we published, we show for all companies that even if you had the dream forecasting machine, meaning that you could forecast, you could identify all the companies that will meet and beat consensus next quarter, you are not going to make any money from this."

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