How do you measure "expensive"? P/E? PEG? Price/Sales? Share Price? Insofar as the 'stupidity' of analysts, they are the best things we have to ascertain future earnings. And even more important isn't their precision or reliability, it is the point that many investors do consider what analysts have to say. Thus, like a technical analysis of a stock, which many would consider 'stupid', it becomes effective the more that people utilize their service.
Church & Dwight: Optimism Abounds [View article]
Thanks for taking the time to write.