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 earnings, without any true understanding of the nature of those earnings. Furthermore, much of what are announced could be the result of fanciful accounting. 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 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 becomes repetitive gospel. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewHole tweets.)
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