Quote from PhiliC:
Points well taken. All that time is spent reading a blizzard of paper -- advisors, web sites, annual reports, value line, newspapers, morningstar. But that's where the edge is -- truly trying to get a grip on the large picture (macro) then taking a great variant perception trade. One of my best variant perception payoffs this year was being short sears holdings, but that was a tough one as the Eddie believers wouldn't let go of it. Most over-rated human being in history -- Eddie Lambert.
As for the trading -- my hours are spent doing the background work. trying to understand the fundamentals. Trying to understand why is a market going up, why is it going down. Are those reasons legit? Will they last? What will turn it? Getting inside of it.
That's how the money is made fellas -- not making one or two tics a day then going to the golf course.