The Best Trading Proverbs

Fundamental Analysis as a Trading Strategy:

“Fundamental analysis is usually the purview of large informed capital interests, which have the means and commercial contacts to analyze fundamental data more accurately than anyone else. The large amount of capital that these informed interests control can move the market price in the direction of expectations, at least over the short run. Speculation based on fundamental analysis, therefore, may be considered the domain of the large informed capital interests. By its character, successful fundamental analysis excludes the majority of small nonindustry speculators from participation, since they have neither large capital nor inside or informed industry information about supply and demand conditions.” - Allen Jan Baird
 
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“There is no individual bet we make that we can explain by saying we think one stock is going to go up or another down,”. Every bet is a function of all the other bets, our risk profile, and what we expect to do in the near and distant future. It’s a big, complex optimization based on the premise that we predict the future well enough to make money from our predictions, and that we understand risk, cost, impact, and market structure well enough to leverage the hell out of it.” Renaissance (James Simons)
 
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