That's a good observation. Traders/investors think they have an edge, but it's only a strategy. Some hedge funds may have edge from getting early notices of analyst upgrades to stocks, thus front-running upgrade announcements.
Actually he made an objective statement.. I understand and agree. Those of us who trade, open businesses, etc have simply hard work and luck to make money. I like that better in the long run because by definition edge is fleeting and money earned the old fashioned way may not be nearly as shortlived. Again, good to the point remarks on what edge is.
It´s Picasso, Pablo Picasso, and he died a rather wealthy man. U're totally off the mark here. As of Wiesman shunning a hedge fund job because of his tremendous trading results, well, why not but afaik he was still posting 20 or 30usd paydays on the market very recently... No i didńt forget the K on the profit figures lol
Yes, piezoe already pointed out my error. I was thinking of another starving artist, there millions of them.
Wiz@man lives in fantasy world. There are lots like him in the business. It attracts the deluded dreamer types and for a few, that becomes reality as they are flipping burgers or living with mom.
No one--- that's a broad statement. No chart watchers or price counters have an edge but to say no one is absurd.
Many of the institutional guys here have an edge: customer information, balance sheet funding, etc. But I would posit to say the ONLY edge a retail investor has is that they might come across some kind of information in their personal lives or their day job: their neighbor tells them that their company won a big contract from Caterpiller that would signal an uptick in machinery sales. It's not inside information but it's not public either.
If that's the only edge, then why does the market exhibit similar behavior day in and day out that u can profit off of?
If you are making money day in and day out: no losing trades in a quarter then you are a rare breed. How many years have you been doing it? I assume its been at least 10. Congrats. You are much smarter than I.