Saturday, October 11, 2008

Computerization and Opinions on Financial press

**This is an excerpt from the text 'Mastering Fundamental Analysis by Michael Thomsett'**
**I have just tried to use his comments here for wider audience. I have no copy rights on this paragraph**

" The computer has served to make the technician more efficient at producing opinion; it has not necessarily improved on the quality of that opinion. Graphic capability has made it easy to produce charts more quickly and for a wide and diverse number of stocks, industry groups, and indexes. This never improves the quality of information; it only makes quantifying easier. So even with more reliable scaling, faster output, and greatly improved turnaround time , questionable information remains questionable."

The above passage holds good every single moment in the stock market. CNBC pours opinions like a rainfall in Africa. How to weed out unimportant suff is the matter of awareness and knowledge which is hard to get. I hope there is a TV channel oneday which disseminates only knowledge rather than opinions. It may not occur because it will be left with no viewership.

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