That's basically what the technical analyst's Satan said. He thinks that just because the masses cannot time the market that it cannot be done. Considering there are a little more than 1000 CMTs (chartered market technicians - TA's CFAs) in the world perhaps Burton Malkiel needs to attend a few meetings.
The idea that the masses think one way just at the wrong time is the basis for sentiment analysis and a whole body of technical knowledge.
But, the 10th edition of "A Random Walk Down Wall Street" is coming out now. Talk about timing! Come out of the closet, Burtie.
Sorry, you'll have to wade through a few ads to see Steve Forbes' interview with the guy.
No comments:
Post a Comment