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  • thomasp2a thomasp2a Feb 16, 2005 12:16 PM Flag

    No Mania In Here Yet

    I respect bojozown opinion and wisdom on the stock market a huge help to me. In fact I have printed a few of your more insightful post. However, I have to seriously question your take on TA. First of all when the great Warren Buffett says that TA analyst make fortune tellers look good ... that tells me something. No I am not saying he is a god but he knows more than me and yes even more than you. Secondly you have to be careful about using a 25 year old trader as anecdotal evidence supporting your claim. Let's see how he has done over 10 years and then if he has made and kept his small fortune I will sure allow you to use him as a strong piece of evidence supporting your claim that TA is very effective form of analysis. John TRain wrote a book about the gurus of the investing world... he wrote a nice summary... history of their trading techniques... from Soros to Buffett to robertson to lynch to .... you get the point... the name of the book eludes me but it was very enlightening studying the various methods that they used to amass their fortune... and the end of the book he quickly talks about technical analysis and says that he is unable to find a master who amassed a fortune using technical analysis... furthermore he has a very interesting story about a trader whoc charged a ton of money speaking about becoming a millionaire using TA... he had in fact amassed a fortune but what he forget to mention was that he had lost all the money he had made... but people still flocked to see him... i don't know but I tend to believe that over the longterm ta offers you little value... i would love to be told that it does and i would love to make it a valuable part of my investing but the proof is in the pudding and over the longterm it does not hold up... you made your money not as a trader but as a longterm investor... yes it was bold... but it was intelligent... put all your eggs in one basket and watch that basket carefully....

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