But still it would seem it is not too hard to pick the few active managers that do add value. Trouble is most people don't look at the right data for that, because the funds industry as a whole doesn't want them to look at that.
Well MOO what does the academic research show about being able to pick the top managers? What is the right data to look at? You look at buffet's 30 year returns - who matches that - most managers have a great one or 2 years - but long term they can NOT replicate thier performance - you are not with berkshire anymore - so I assume you feel you can outperform warren?
I've been arguing this for sure. Unless one has particular knowledge in a particular industry combined with financial understanding.
I had particular knowledge of computer software and hardware - but my gordon gecko friends that had inside info always seemed to do better than me, the lawyers, doctors, fund managers they shared this info with always seemed to do better than me. Crazy huh? Me being the one knowing the new discoveries - the geeks working in the engineering groups making them - all gecko knew was where a lot of cash was about to go into some stock - so so silly huh? hehe MOO, say you know the oil industry, or the currency markets, you are a well connected expert - but some gecko type that snorts too much cocaine and dropped out of elementary school knows Mr. Yale pension fund is about to plow 100 million into DROOY - who has the better info to make money from?
OTOH if technical analysis works then for those who have the skills to use it properly they should be able to get some edge, because of all those that have been brainwashed that it doesn't work.
Mr. Phil says this is absolutely the only way to get any LEGAL edge over Mr. Gecko - as he plows into the stock and its options contracts - you can follow the flow of money - all else is NOISE - hehe.
mta.org
Now I have a buddy, he has the finance degree, controls large pension fund - he is part of this group - and I ask him - if everyone learns to do this - or use software that does this automatically - what edge can you gain from it anymore - he does not answer me. My assumption is that you are RIGHT - only having dumb money not use this will give you the edge, but shades is about creating star trek society, he wants everyone to have access to knowledge and tools - he does not want certain professions to exist only because they can keep "brainwashing" dummies as you say - hehe
Look at who uses technicals - you are going to get the edge?
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President
Jordan E. Kotick, CMT
Barclays Bank
212-412-1137
jordan.kotick@barcap.com Vice President
John J. Kosar, CMT
Asbury Research
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john@asburyresearch.com Treasurer
Larry M. Berman, CTA, CFA, CMT
CIBC World Markets
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larry.berman@cibc.ca
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646-422-1333
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Jon S. Duke Jones, CMT
Merrill Lynch Investment Managers
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Michael N. Kahn
Michael Kahn Research LLC
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michaelkahn@lycos.com
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Charles D. Kirkpatrick II, CMT
Kirkpatrick & Company, Inc.
(970)884-0821
(970)884-0823
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Steven W. Poser
New York Stock Exchange
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Ralph J. Acampora, CMT
Prudential Financial
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ralph_acampora@prusec.com
Executive Director
John R. Kirby
Market Technicians Association
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732-596-9392 (fax)
jk@mta.org |
