reckon napolean15 Jul 2016 10:20
was having dig at folk/generals who talked a brilliant game, but tended to lose and blame ill fortune
...if you trade hundreds of times, the luck element is steadily eliminated to reveal the "Truth"...but even beating the market is not that great when the market performance (AIM) is pants: look at the 20 year history..it is staggeringly bad...as bad as any except those that have been wiped out by catastrophic in country politics (cf Russia 1917 lol)
..what is truly amazing is the appetite of so many PIs to come back again and again to lose money (but in illiquid AIM they are hugely helpful lol)...what do they reckon they know? what do they think their edge is??
...I worked as a pro investor for years, but am still often wrong footed by management's capacity to obscure in their own interests, by the complexity of markets/competitive position, by random stuff
..what hope for folk who cannot read/understand financials, have never "done" a comprehensive multi week dd/quizzed management etc etc, assessed markets/competitive position or worked up countless valuations
..Jolly irritating pov ...but still salutary for those PIs relentlessly bashing their skulls against the brick wall of reality