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Technology Stocks : America On-Line: will it survive ...?
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To: Bald Man from Mars who wrote (8607)3/6/1998 6:42:00 PM
From: Pancho Villa  Read Replies (2) of 13594
 
>>How much reading do I have to do everyday ???
Do I need the Wall Street Journal and the Investors Business
Daily.
Do I need to know how to read price charts, how about financial
reports ...<<

If you are trying to beat the market you need to read all this stuff and more! However, there is not firm evidence all that hard work pays off. Passive investment strategies are hard to beat. For example, I achieved a 40% plus return last year but I may not have beaten the market on a risk adjusted basis as I was on margin a significant fraction of the time, and the stocks I buy are usually riskier than the market. It is possible that I could have achieved the same results by indexing myself and then using leverage to match the volatility of my active strategy. Well, at least I did better than most active money managers!

Pancho

PS: year to date I am now about 12% down so I guess you could make a case for regression to the mean so far. Beating it ain't easy.

So why do I do it? It is fun to try and beat the market, make some extra money without having to shovel... I like the stuff but I must admit I miss on other things. (I don't shovel but put over 60 hours/week on it any ways!)

yes you will learn about all this stuff in the book which I asure you will read over many times. I took all this stuff at school and still I do read it again and again...
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