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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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ajtj99
skier31
To: ajtj99 who wrote (76453)2/4/2023 8:14:50 AM
From: Sun Tzu2 Recommendations  Read Replies (1) of 97654
 
In one high profile conference (Davos?) someone asked Bill Ackman how he can justify his drastically different positions from Ray Dalio’s or Stanley Drukenmiller's (I'm paraphrasing).

He answered that there are great many ways to make money in the market. And that so long as one is persistent and consistent in his particular style, eventually he will learn that trade and will make money at it.

There are people who consider all TA as hokey and trash. And those think FA is BS because why would you buy something that is going down where the reason will only become apparent later. There are trend following strategies and counter trend strategies. There is macro and top down. And then there is bottom up stock picking and so on and so forth.

All of them work some of the times and fail most of the times. To think that only one's style is gold and all others are trash seems very arrogant and ignorant to me. A cornerstone of modern portfolio theory is that the most perfect portfolio (on risk adjusted basis) is one that includes *every* stock out there. Why? Because one that has no purpose and no contribution would cease to exist. It's an ecosystem. Every organism has a part to play. There is no trash.
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