Editor's Note: Below is a brief excerpt from today's Early Look written by Senior Macro analyst Darius Dale. Click here to learn more about the Early Look.
What you learn about our industry having to interact with thousands of investors in a public forum is that almost everyone has a very strong opinion about the macroeconomic outlook and how financial markets are likely to respond in kind. But when you apply Zappos-like filters to the pool of available content (such as: “Is the author a credible expert on the subject matter?”; OR “Does the author have a repeatable process or are they mere peddlers of pretty charts that fit the market narrative of the day?”), you wind up with a tiny fraction of the available investment advice to consume.
Per the graphs and tables attached to the “What do you guys think about this?”questions that land in our inboxes, daily, my sense is that institutional macro content isn’t much better in terms of having a clear orientation.
Sure, there are perma-bulls and perma-bears, but I rarely see anything that resembles the kind of repeatable, robust investment process required to succeed on the buyside in the era of The Machine. The American Capitalist in me hopes it stays that way.