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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (83873)	5/1/2007 5:13:34 PM
From: chowder	Read Replies (2) \| Respond to of 206334

>>> there are plenty of studies that say hedge funds are bad investors as well, <<< I agree! However, look at their strategy. They are limited in what they can do. They must HEDGE! They must go counter trend. Counter trend is one of the most difficult strategies to employ and be successful on a consistent basis. Market conditions change. Market strategies must change with them if one is going to consistently outperform the market. This is where skill comes into play. One must know when short term strategies work best and how to play them. One must know when long term strategies work best and know how to let profits run. One must know when to short the market and what strategies work in that environment. All of that takes skill, IMO. Just learning the strategies and how to apply them takes skill. I have a hard time believing one can outperform the market in all market conditions off of luck. I lucked out investing in energy when oil was under $10 per barrel. I didn't know anything about the market then. My daughter lucked out with MCD when Warren Buffet was selling. She said buy. She was right. She was also lucky. In my opinion, a skill is something you can repeat over and over again regardless of market conditions. If I'm wrong with that, then some of us are Super Lucky! <lol>