Trading the Trend (Collection)

Fundamentals Are Religion

My own view is that this planet isused as a penal colony, lunatic asylum,and dumping ground by a superiorcivilization, to get rid of the undesirableand unfit. I can’t prove it, but youcan’t disprove it either. It happens tobe my view, but it doesn’t challenge anyof the findings of Darwin or Huxleyor Einstein or Hawking.¹

There are two basic market theories. The fundamentalist studies economic realities—supply and demand factors—that they believe underlie market values. Fundamental analysis relies on government policy, economic projections, price-earnings ratios, and balance sheet analysis (and so on) to make buy and sell decisions. The religion of fundamental analysis is about telling stories:

• Crude oil traded near ...