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what's your sharpe ratio? only 7 positions out of the entire index meets your criteria? they have survived the past week?

yes some managers move to cash, but an equity only pm can also do this by hedging risk through put options. if your manager's mandate does not allow for them to make changes, then you are paying for active management but getting closet indexing.

what's your monthly turnover? how many positions do you hold? how many have you hold for more than 2 years?

I've explained this to you so many times now lol...if you were to actually follow your rules, then your performance would look very different! There is a subjective element in your security selection that you're not acknowledging, and it's that component that is more responsible for your returns...

No...by definition 50% of investors will underperform their benchmark. There are lots of "professional" managers out there, but the ones with skill typically have organizational edges, which translates into recurring outperformance. So a skilled professional will outperform more frequently than...

between 2 and 3. Ken Fisher is...interesting, but I wouldn't really call them a legit investment management firm, they are closer to wealth management. Most good managers are walled off from retail except through Fund of funds. There are a handful of great mutual fund PMs, and to find them...

nope not really. maybe in the 1950s-80s before everyone and their mother could see real time moving averages lol (somewhat useful)... The concept of price action trading is total shit. If I gave you a random stock and told you nothing about it, I guarantee your hit rate on subsequent direction...

if you do some simple tests of TA rules, you'll find that the vast majority don't work. Among the ones that do, very few actually are accretive to PnL. Ultimately, what is more important than TA rules is being good at figuring out if a stock is going to go up or down through some time period...

There are plenty of poor/unsuccessful traders who trade based solely on TA, and lots of youtubers who make money teaching those poor souls TA lol. Most quant strategies are some form of stats arb, momentum, or market making. Sure, some use moving averages (smart ones use kalman filtering) --...

Right...in this case, studying chart patterns has an extremely low accretive effect to pnl. So telling someone to "study the chart" is like telling someone who wants to play basketball to spend all of their training hours practicing hand writing, when they should be practicing shots, dribbling...

sure, but anyone can run a profitable backtest. i'd be curious to know what your success rate and sharpe ratio looks like (along with drawdowns). I assume you've been trading for 5+ years and keep track?

"practice doesn't make perfect, perfect practice makes perfect"

How do you know that you have real skill and aren't just lucky?

A paper or two was published on the anomaly and now more money is trading it. Still good if you can isolate the companies that are being bought into buy larger funds, but that requires a bit more work (13-f stuff, cross examining vs. mandate, seeing if company is actually performing well...

you mean "all the people" who literally have not studied to know if TA actually works and instead rely on the opinions of "wise hands"?

Yeah TA/charting doesn't really work. Vast majority of folks here don't understand how trading works and so they just spout TA nonsense that discount brokers pitch to drive order flow. Seasonality is a real phenomenon and it's driven by incremental changes in volume around recurring events...

Here’s how you should see it: 1- individual investors (orgs, people, endowments, etc.) have unique requirements — their tax situation, liquidity needs, risk tolerance, etc. are highly specific 2- wealth managers work with individual investors to optimize their investment portfolio to their...

IMO the term trader itself is a misnomer. A real trader is someone who is buying and selling without taking much risk. An analyst is someone who generates ideas on what to buy or sell and when. A portfolio manager is someone who determines how much risk to take, and where to allocate that risk...

Right could be like 1 week or something. That would be interesting to watch.

But also what exactly defines a pro? Pro typically means they manage other peoples money, have licenses, and some kind of track record