Well, kids, we're off to the races again. But regarding my earlier comment that more information does not equal better decisionmaking, look at what just happened: dogface diligently listened in on the conference, did his homework, crunched some numbers, and bought in at 16 1/8. I said to hell with it, went out with the wife and kid, had a great time, joked around, and bought in at 15 5/8. Dogface, I'm half a point ahead of you and no longer taking Mylanta.
So guys, just ask yourselves: is it critical that you know that a 450K block traded today at noon? Or that a downside gap has been filled? Or that someone thinks it will go up to 18 1/2 and then back to 16? (A few too many significant digits in there for my taste...)
No, I'm not one of those techno-Luddites who thinks we should all throw out our computers and start writing with quill pens. Even a gut feel is based on many months and years of observation and analysis, some of it subconscious. But is one approach necessarily better than the other?
I am beginning to suspect that the investor who processes this amount of information is no better off than the investor who goes with his gut and ignores much of the noise.
P.S. Joseph Francis, you Paranoid Man, I wasn't talking to you.
:-) |
