The Financial Times/StarMine recently awarded Wedbush Morgan analyst Michael Pachter the designation of number one Earnings Estimator for the Software sector. As Pachter said, "Please note that there is no 'video games industry' and that my performance is compared to the analysts who cover not only video games, but those who cover other software, such as Microsoft, Oracle, and other such companies."
You may recall our Very Special Kotaku Feature earlier this year titled "Analyzing the Analysts," in which tireless former Kotaku intern Tori Floyd weighed game industry analysts against one another. The result? Wedbush Morgan's Michael Pachter scored the highest among his peers in terms of how often he was correct. Yeah, we totally called it.
In an email sent to the press titled "Some Tireless Self-Promotion," Pachter discussed the award:
"I take more than my fair share of criticism for being 'the worst analyst in the industry, bar none'(paraphrased from a quote last week)," Pachter said.
"Sell-side analysts are paid to understand the earnings potential of the companies they cover, so our earnings accuracy is quite important. The closer we are to the mark, the more credible we are to buy-side clients. Notwithstanding many of my outlandish (and often wrong) predictions, I take a great deal of pride in my ability to forecast the earnings of the companies I cover."
"I'm happy to continue to take shots on the many occasions when I'm wrong; just thought you would be interested in seeing that I am recognized as being competent in the one area most important in justifying my compensation ... Thanks to all of you for your continued indulgence."
Congrats Michael!