Information is All Around You, But Can You See It?
Recently, I was exchanging emails with the man who gave me my start as an investment analyst three decades ago. That firm Equity Research Associates, was a vibrant, sassy upstart that was known for first-rate, highly original, forward-thinking research. I learned from him that investment success is about figuring out what’s going to happen next not what happened last week or last month. Success demands that you figure out trends before they are well observed. There are huge rewards for being early to the party and gigantic penalties for being the last one to leave.