Investors probably expect that following the suggestions of stock analysts would make them better off than doing the exact opposite. Nevertheless, recent research by Nicola Gennaioli and colleagues shows that the best way to gain excess returns would be to invest in the shares least favored by analysts. They compute that, during the last 35 years, investing in the 10 percent of U.S. stocks analysts were most optimistic about would have yielded on average 3 percent a year. By contrast, investing in the 10 percent of stocks analysts were most pessimistic about would have yielded a staggering 15 percent a year.