HedgeSpeak: What is he talking about!?

February 2000

“…..Years ending in “O” have an average loss of -8.17%; the Dow gains only an average of only 0.85% during the last year of a second term President and loses an average of -7.0% for the last year of a second term Democrat; and the results from XYZ Study forecast prices going down -9.3%. Since the release of that letter, the Dow’s performance has provided further evidence that Dow prices may continue to deteriorate.”

I recall my colleague Patrick throwing up his arms and saying: "What is he talking about!?"

This manager spent significant time analyzing the more obscure aspects of technical market analysis in order to gain an investment edge.

Apparently there was no edge. By the end of 2000, his business was shuttered.

Conventional wisdom is that if it doesn't make sense... Do not invest.