re: Best way to learn the Stock Market

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You probably aren't smarter than them, and you certainly aren't better informed.

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I'd strongely disagree your first point, and strongly agree with the second(and no, I'm not referring to insider information). You'd be surprised how many institutional investors operate, not all are dealer prop desks (the few that even exist anymore) or large asset managers. A lot of pension investment committees actually have"timed" the market correctly simply because it takes them anywhere from 1-8 months longer to make asset allocation decisions compared to a retail investor, even though they made a decision most retail investors made at the time. By that time euphoria subsided, markets sold off, and they ended up buying low.