Little independent thought comes from the analytical ranks. What goes for research on Wall Street is primarily corporate reports. Little is done on all-important strategy. Most analysts have no time for careful, insightful thought.
Moreover, the investment community is
incestuous, feeding on itself in a way which foments herd-like and
impulsive instincts.
Yet,
we constantly hear about expert securities-pickers and newly-found,
can’t-miss strategies. You may hear or read of it as if they have
just found gold. I have heard of comparable new-strategies for
decades and I have investigated them.There are no panaceas (See
the Earl J. Weinreb NewsHole® comments.)
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