Surprise; Little deep, independent, investment research and thought comes from the analytical professional ranks on Wall Street.
What goes for research on Wall Street is primarily in the form of public company reports. These have to do with reported earnings, without true understanding of the nature of those earnings. Moreover, much of what earnings companies announce could be the result of fanciful accounting. So all that earnings reportage may be meaningless, if not misleading.
Little is done to report on what is most important to the investor; the use of all-important strategy. Most analysts and money managers have no time for careful, insightful thought of the many, many hundreds of those, which, along with disciplined use of strategy, is essential.
Moreover, the investment community is incestuous, feeding on itself in a way which creates herd-like, impulsive instincts. This results in the inanities and gibberish that has become gospel, owing to repetition over the years. ( See the Earl J Weinreb NewsHole® comments.)
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