It seems that the cricketers are hell bent on helping me. Today it has come in the papers that Harbhjajan singh has been reported by the umpires and the third refree for faulty action. Only last month he was cleared by the ICC where cameras from all angles examined his action.
Where is the unpire, the third refree or the ICC here? If his action was examined by so many angles why not the analysts on whose recommendations many people put their money on the line.
Former Pakistani captain Imran khan said that the Pakistani team lost because of lack of consistency. Thats exactly what I am saying- even if he is good, how do you ensure that he is consistent. It reminds me of a post I made by extracts from a book by Alexander Elder where all the superstar gurus fell by the wayside because of changing market conditions. If they could be proved wrong, what about the run of the mill analyst?:-
Beware of Trading Gurus- http://www.traderji.com/showthread.php?t=599&highlight=Beware+gurus
In some cases the individual investor maybe at fault but to make it a sweeping generalization would be misleading. Even in fly by night operators, IPOs, Ketan Parikh/Harshad Mehta, the culprits are brought to book though the small investor cannot shift blame. ONGC took its own sweet time to refund our money. You can always blame me but was I going to dream that a company like ONGC would do a thing like this. Where is the indicator to judge. "Holy grail" can be used to camouflage temporary inefficiency too-
There is certainly no holy grail
What if there is an unholy trail
All stocks will fail
Not just SAIL and GAIL
Such people should be stopped;whether they recommend by TV or newsletter/email
Not many would shed tears if some land in Jail
Most investors would proabably hail
Whether they are high net worth individuals or retail
By such measures, on the head, they would have hit the nail
If only the law would not move with the pace of a snail
All this would be avoided if the anaylsts provided full detail( about themselves and their recommendations)
As it is, with a plethora of indicators, TA at times can be a confusing cocktail.
If you think I am exaggerating, some angry trader called an analyst a pimp.The peson whose has been cheated will always react like that which somebody did tearfully at the investor camp.Efficient Analysts would not be affected. The issues is that since they rarely give reasoning, how can you judge even otherwise?
Nevertheless, Aruns point is interesting. There will always be the odd guy who might outsmart the professional managers and even the entire system the way Harshad Mehta did. I remember managers saying that Mehta could see a whole picture where they could only see a tree. My own father makes much better and faster decisions watching NDTV that I do using charts and indicators. Its a double loss for me as I miss out on the ladies too.
I have also seen characters at my brokers who just freak out sitting in front of the terminal:-
They are able to make decisions on Open, high low and close
In things like technical analysis, they never poke their nose
Complexity is alien to them, such problems to them the markets do not pose
They are as different from technicals as from Gandhiji was Netaji Subash Chandra Bose
Though both used different methods, I thought Bose too was extraordinary and he had credibility too. Many analysts may not have that.
Where is the unpire, the third refree or the ICC here? If his action was examined by so many angles why not the analysts on whose recommendations many people put their money on the line.
Former Pakistani captain Imran khan said that the Pakistani team lost because of lack of consistency. Thats exactly what I am saying- even if he is good, how do you ensure that he is consistent. It reminds me of a post I made by extracts from a book by Alexander Elder where all the superstar gurus fell by the wayside because of changing market conditions. If they could be proved wrong, what about the run of the mill analyst?:-
Beware of Trading Gurus- http://www.traderji.com/showthread.php?t=599&highlight=Beware+gurus
In some cases the individual investor maybe at fault but to make it a sweeping generalization would be misleading. Even in fly by night operators, IPOs, Ketan Parikh/Harshad Mehta, the culprits are brought to book though the small investor cannot shift blame. ONGC took its own sweet time to refund our money. You can always blame me but was I going to dream that a company like ONGC would do a thing like this. Where is the indicator to judge. "Holy grail" can be used to camouflage temporary inefficiency too-
There is certainly no holy grail
What if there is an unholy trail
All stocks will fail
Not just SAIL and GAIL
Such people should be stopped;whether they recommend by TV or newsletter/email
Not many would shed tears if some land in Jail
Most investors would proabably hail
Whether they are high net worth individuals or retail
By such measures, on the head, they would have hit the nail
If only the law would not move with the pace of a snail
All this would be avoided if the anaylsts provided full detail( about themselves and their recommendations)
As it is, with a plethora of indicators, TA at times can be a confusing cocktail.
If you think I am exaggerating, some angry trader called an analyst a pimp.The peson whose has been cheated will always react like that which somebody did tearfully at the investor camp.Efficient Analysts would not be affected. The issues is that since they rarely give reasoning, how can you judge even otherwise?
Nevertheless, Aruns point is interesting. There will always be the odd guy who might outsmart the professional managers and even the entire system the way Harshad Mehta did. I remember managers saying that Mehta could see a whole picture where they could only see a tree. My own father makes much better and faster decisions watching NDTV that I do using charts and indicators. Its a double loss for me as I miss out on the ladies too.
I have also seen characters at my brokers who just freak out sitting in front of the terminal:-
They are able to make decisions on Open, high low and close
In things like technical analysis, they never poke their nose
Complexity is alien to them, such problems to them the markets do not pose
They are as different from technicals as from Gandhiji was Netaji Subash Chandra Bose
Though both used different methods, I thought Bose too was extraordinary and he had credibility too. Many analysts may not have that.
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