It seems that in a world where aggregated content is king, earnings estimates are now officially part of the craze. Meet Estimize, a startup that allows anyone to put up their own estimates come earnings season.
Obviously this has been around for awhile in the form of "whisper numbers" the unofficial but widely relied on earnings numbers by which companies are judged. Apple may have a blowout corner but if it doesn't meet the whispers... well.. hope you owned puts. Surprising or otherwise, it seems the crowd over at estimate are pretty good at what they do...
In the first four months of 2012, the site’s earnings forecasts for 160 reports were more accurate than those by Wall Street analysts 63 percent of the time. “We are able to put forth the guys who are actually the best analysts,” says Drogen, “vs. the guys who are just the loudest or have the biggest names.”
Obviously, this probably doesn't come as a surprise considering many of the people who sign up are professional analysts anyways. It does seem to be a continuation of a trend towards democratizing financial research and further minimizing the need to pay for sell side coverage (or at least wholly rely on it). What do you guys think? Could sell side analysts be going by the wayside? Do those of you currently in the industry scoff at the fact that aggregated opinions could possibly beat out all the hard work you put in?