re: Random Walk Down Wall Street

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To take it further, how do individual day traders expect to beat the Einstein's who are utilizing high frequency trading algo's and are co-located with or in the exchanges and are seeing competing trade prices before execution? I don't know what happens with the S&P by end-of-year, but do know more than a few people who have lost all their savings trading. It's always a new system or tips they buy from a guru or the charts say something is extremely likely to happen that doesn't,etc. Oh well, good luck to them.

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I think the majority of that is snake oil salesman bs. Its like the next wonder diet pill. There is no trick that hasnt been thought of. To be successful in trading stocks the secret is to apply yourself and do the work, just like it takes a good diet and exercise to be in good shape.

Anyone have thoughts on the unpredictible nature of people (from investors to CEO's) and how that impacts the markets swings. I personally beleive this is the one factor that will forever keep the market beyond the reach of any analysis designed to predict its movements.