The few times in my life I've made money from an "I've got a deal for you phone call" the person on the other end wasn't making money from a cut of my check. Instead, I was making the deal bigger.
Stock market literature is a respectable pony system. The Dow goes up because they drop losers and add winners. The index funds were that were holding AIG didn't get Kraft Foods shares and their investors lost money. I feel I'm just smart enough to recognize that intraday is dead money for the quants in HFT.
Look, we actually agree on most things. But smart money also knows there's a durable advantage in patience, time frame, and liquidity. Something that the individual can general have an advantage against funds in (given substantial knowledge in fundamental valuation techniques and market dynamics - no small order). Describing it as a 3 year low is completely accurate. Saying there's a lot of dumb money in retail is, too. I respect your not playing a game that is set up against you.
The few times in my life I've made money from an "I've got a deal for you phone call" the person on the other end wasn't making money from a cut of my check. Instead, I was making the deal bigger.
Stock market literature is a respectable pony system. The Dow goes up because they drop losers and add winners. The index funds were that were holding AIG didn't get Kraft Foods shares and their investors lost money. I feel I'm just smart enough to recognize that intraday is dead money for the quants in HFT.