Are you a stock picker?

May I ask why?

What makes you think that you can outsmart full-day traders and the professionals?

What is your edge over them?

You might no longer have an edge in calculating ratios or analysing stocks based on old data (financial statements are the rear-view mirror of a company’s progress). Computers are much better at it. You might have had that edge in the last millennium. But nowadays that edge is arbitra-edged away – excuse that PUN.

By the way, has it occurred to you that with the growth in passive investment vehicles like ETFs the lousier traders/active investors (like yours truly) have left the circus of active trading?

So, who is left in that circus?

Apparently the better ones and the more proficient ones (both are not necessarily the same).

Could that make it even tougher to beat them?

Don’t throw …