No I don't think so. People who have Bloomberg or Reuters have a clear advantage, but those services cost megabucks. Beyond that, though, a lot of stuff is available on the Web, although often with a 20-minute delay (and often not, if you spend a little money).
But if you invest in a manner that 20 minutes makes a difference, good luck. To me, that is skating on thin ice. If you do trade, find a stock that has solid long-term prospects (that protect against the downside) with good volatility. Then research the hell out of it before you go in.
As for revisions, as both I and that guy who used that shallow ploy to try to trick me into saying where I work pointed out, there are three basic services, First Call, Zacks, and IBES, and at least two of them have affordable retail services.
I think it is wrong to have the attitude that everything in the world should be free on the Net. I am not saying you think this way, but a lot of people do. It is naive and unrealistic.
In a sense, you should be happy to pay for information, because that assures you that it is somewhat exclusive, and gives you an edge. But again, there is no substitute for a solid understanding of accounting, finance, and balance sheet analysis. Developing that will cost you a lot of time and money, but that is where the real edge comes from.
Happy Investing!
Vanni |
