Quote:
Originally Posted by GrobbGangsta
[You must be logged in to view images. Log in or Register.]
No rage here. I would never day trade or take a "seminar" on day trading because every economist/finance professor/seasoned investor knows that analyzing past data or trends has zero impact on your ability to predict future outcomes in the market. This is the first thing you learn in finance.
Institutional investing is only way to make profits over long term.
|
You just gotta let him be. If you asked him for one reason behind his trades he wouldn't once mention a companies future outlook or where the economy is going so he doesn't understand where you are coming from. Herb looks at the past and makes trades based off of a line graph showing historic prices. This simplistic model is no longer practiced by any real mutual fund managers and hasn't been for over a decade.
He was just staying up late one night grinding out some EQ and purchased a trading kit from an infomercial. Probably burned through a couple allowances.