mike, to each there own. i think the traders do make money. probably not as much as if they had bought and held, though - ex commissions. but they take less risk, too, and that is worth something.
i don't think they care about fundamentals, or even understand them in some cases, as their 30 years of "experience" has told them that they can't know what the fundies will be in the future.
then when the market acts irrationally they use that as a justification that what they say is true. for example, a move from $30 to $60 is proof that fundamentals don't matter. and they are right that perceptions doesn't always equal reality and stocks are purchased on perception not fact. but, over the longer term, fundies rule the day.
mike has developed his system to protect him against these short term "brain farts" when the investment community can't comprehend or grasp the obvious. 8 months ago mu was supposed to make $0.80 now. anyone who thought differently was nutso. now that we are proven right we're nutso.
hey, come to think of it, you are kind of nutso ;-) |
