Technical analysis
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AK-47 | Mon, Apr 5 at 6:17pm:
Alex -- technical analysis will NEVER help you to earn any money! The reason is simple -- technical analysis says that future reflects the past, which is (hope everybody agrees) not true. It completely ignores the effects of any news. Share price doesn't. In addition there IS empirical evidence that technical analysis models DO NOT hold. By the way the rejection of technical analysis as a separate tool is the mainstream of modern finance. CAPM, APT, M div are all theoretical models. Although some people apply these they have to make certain adjustments to the real world situation. These adjustments significantly decrease the value of the models. Besides there are a lot of studies over there (Modiglini, Miller, Fama, French, Hamada) who reasonably argue the the fact that these models can work in real world.
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