Little independent thought comes from Wall Street’s analytical ranks. What goes for research 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 analysts have just found gold. I have heard of and investigated comparable new-strategies for decades.There are no panaceas (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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