Here Is How Most People View Investing

Most people view understanding this (PDF) type of calendar as the ticket to investing Shangri-La.

It’s not.

You don’t have to know those dates. You don’t have to know what the ISM Manufacturing Index is or does. You don’t need knowledge of what to look for in Durable Goods Orders. File that all in the trash.

This is the same stuff touted in my MBA program. Big waste of time.

Trend following cuts to the chase: making money.

4 thoughts on “Here Is How Most People View Investing

  1. Check this one out. Here is a guy having a argument with the market. He is shorting against the trend, and then he has added to his losing short position, because he “feels” he will make money.

    Then down below in the comments section you got guys trading of the planetary movements and predictions of where the market will go and why you should “trade small” because of the unpredictability. One guy sees a head and a shoulder, one guy sees a “scary dip” because of Jupiter.

    The kicker is under the chart they have a Covel Quote….”Winning traders make money by consistently exploiting irrational behavior patterns of other traders.”

  2. great contrast…an over-complicated calendar of meaningless data and then one of the greatest traders ever singing about the keys to winning trading…

    you are right MOST would think that calendar means something, when the “secrets” are in Ed’s song

  3. the truth is that all of that meaningless data he is obsessing over will all be reflected in the price, so why waste time trying to predict and interpret, when you can just follow the price action and save all the brain damage?

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