Glen, brokerage houses financial analysis is supplied in many forms. The analysis that they publish on their home page and is available to those who access it as non subscribers (free), is not the same as that which is supplied to their institutional customers( big payers), or even to paying subscribers to their home page,. can we agree on that? In this life we seldom get anything free.
The institutions and large investors pay huge amounts of money for the various analysts opinions and projections, and the analysts future depends on their continued credibility with these customers. If he/she makes them money he/she survives, if not he/she perishes. Same for lawyers, I am not so sure about doctors, but suggest that most professions have the same success or failure guidelines.
Each of us has a different way of perceiving, evaluating, and interacting with the world. I guess that age has brought to me a different perspective on life and a sensitivity about interaction with people that I did not possess to the same degree when younger. Maybe we could agree that you and I see things in a different perspective simply because we are of different ages and come from different educational, and socio-economic backgrounds. In many circles you could be described as a young Turk, while I am now enjoying the fruits of my labor, or something to that effect..
My logic is simple enough. I was trained as an engineer, and technical manager and have always been methodical and detailed in almost everything that I do. When it comes to investing I, out of habit, find myself analyzing everything in the same manner. If any of your friends are engineers, maybe you can relate to this. Engineers or scientists can drive you crazy with the whys and what fores. Documentation, source documents, opinions, rumors,experts (some define them as someone a long way from home with a briefcase), they are all important, but one has to be aware of exactly which category each is in, before the proper weight can be put on each..
When it comes to interfacing with people, writing technical documents, or personal letters I have become even more critical as time passes. In your letter to Mr. johnson, a red flag went off when you mentioned his credentials (CFA), with the words rumor etc. That one comment more than likely caused the response from Mr. johnson that you received. An analogy would be for me to start a letter to you with "by the way Mr. Rudolph, I notice that you are a jewler, does that mean you know something about jewelery". Hope you get my meaning. I am sure that you meant him no personal insult, as your post to me shows that you are logically and sensitivly trying to resolve this issue. I appreciate that.
I see the many posts on the various threads that you make, ones that are informative and undoubtably take a great deal of time to obtain, prepare, and post. It is a great service to the many readers of the threads that do not have the means to obtain some of these expensive services, that you quote from.
We may not be as far apart on our personal opinions as you may think. Maybe only a different approach,,a different perspective, but hopefully a very similar picture.
I would politely suggest that we collectively try and give some of the less experienced investors on these threads more facts to support our opinions about the various positions we take from time to time. I try and post the actual place where the source document can be found so that others can go there and read the actual document. It serves two purposes, possibly gives them another research tool they may have not had acess or knowledge of before, and separates my opinion, from that of the authors.
So in summary lets agree to sometimes disagree, for rstrained disagreement many times is a prelude to the truth or the solution. Isn't that what we are trying to arrive at, and in the process make lots of money.
hope you make lots of it this year, and thats the truth. Good investing |
