Little
deep investment research and thought comes from the analytical
securities segment of Wall Street.
What
goes for research there is primarily in the form of public company
reports. These have to do with reported earnings, without any true
understanding of the nature of those earnings. Furthermore, much of
what earnings are announced could be the result of fanciful
accounting. So all that analytical reportage may be meaningless, if
not misleading.
Little
is done on what is most important to the investor; the use of
disciplined strategy.
Most
analysts and money managers have no time for careful, insightful
thought of the many, many hundreds of strategies, which, along with
disciplined use, are essential.
Moreover,
the investment community is incestuous, in a way which creates
herd-like, impulsive instincts. This results in the inanities that
has become repetitive gospel. (See the Earl J.
Weinreb NewsHole® comments and @BusinessNewHole tweets.)
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