“Amateurs want to be ‘right.’ Seasoned investors want to make money.”
I got a chuckle from article this evening about how technical analysis is useless. It was written by a fellow who admits in the opening lines that he does not use it and knows very little about it. Well, it is no real surprise then that he thinks it is useless.
It would be as if some child of nature from deep in the Amazon discovered an sextant left behind by some explorers, and found it to be very ineffective as an axe. Too short and bulky. Useless!
Or even more simply, a inexperienced but ardent weekend warrior were to receive a collection of tools as a gift and pronounce, after some cursory experimentation, that a roofing square makes a very poor wood chisel indeed.