Empirical studies that show the best eliminate forecast for a company's earnings in Year 1 is the earnings in Year 0 is an example of the

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The empirical studies that show the best eliminate forecast for a company's earnings in Year 1 is the earnings in Year 0 is an example of the random walk model, as it suggests that future earnings are unpredictable and follow a random pattern. The other models mentioned - above-normal growth, price-earnings, and dividend discount - all involve specific assumptions and calculations to forecast future earnings or stock prices, which may not be as accurate as the random walk model.

Empirical Studies That Show the Best Eliminate Forecast for a Company's