Reality: 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 company reportage. 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 reporting 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 multi- 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, over the years. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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