Today's article is short as we're moving into equity investing territory and I don't want to burden readers with too man equations on discounted cash or the residual method in equity valuation. Instead, when you read anther investment blogger, try to see whether you can lump him or her into one of the two categories : a) Discretionary equity investor Most financial bloggers fall into this category. These investors use their own personal judgment to decide which stocks to invest in. Typically such investors will use some equity valuation models but will often supplement it with discussions about firm's managers, competitors, intuition and experience. For such bloggers, a lot of emphasis is placed on the story and discretionary investors need a compelling narrative to make an investment decision. The strength of this approach is that the investor has a large edge over everyone else in that they have access to ......