But he added that investor expectations had changed and that the market was "less enthusiastic across the board."

When such companies fail to deliver on investor expectations, their stocks fall hard.

The next financial year shows who has met investor expectations or who is clearly the most profitable in the industry.

"Another possibility has to do with investor expectation," he added.

In practice however investor expectations create a preference for property.

Results at the auto division were largely in line with investor expectations.

But it allowed the company to meet investor expectations.

When rates are shifting, the distortion of investor expectations can be greater.

The economy contracted more slowly than expected, but a series of rate cuts were not enough to meet investor expectations.

In particular, the Fed was concerned by investor expectations of higher inflation.