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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (88897)1/27/2001 9:33:00 AM
From: Freedom Fighter  Read Replies (1) of 132070
 
Mike,

>>I don't even trust the trade deficit to be reported accurately any more.<<

In the first 10 years of my investment experience I never looked at an economic statistic. I did very well.

Over the next 3 years I gave myself an enormous self-education course in economics and did a ton of research in an effort to apply some of those insights towards what I was already doing.

If anything, it hurt my results.

1. The data is borderline preposterous.

2. Everyone (central bankers, government, treasury, IMF etc..) is working to counteract any imbalances that you might notice. So the moves you might expect happen much later than you could ever anticipate.

3. Some of the data is virtually impossible to interpret correctly without a level of understanding of what goes into it than is beyond most mortals.

I think a better approach is to look at individual industry data. That way you can get a macro view of what's going on within a specific industry.

Wayne
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