I've read some of the reports funds use to inform investment, and let me tell you, a large part of them might as well be a horoscope.
When every single kpi under the sun is available on a Bloomberg terminal or some third party aggregator, people will pay the big bucks for whatever gives them an edge, even if it's vibes-based analysis. Or, they use those phony reports to justify the info they got that is very clearly insider trading.
It's even more silly when the Fed says literally anything. There will be reports everywhere saying shit like "the last time the Fed chair used the word 'defined' three times we saw a huge downturn". But it's sort of a self-fulfilling prophecy because these people control the very market that they're betting on. So when they panic because the seers augur famine, the money pulls out and things dip.
Astrology for finance bros
I've read some of the reports funds use to inform investment, and let me tell you, a large part of them might as well be a horoscope.
When every single kpi under the sun is available on a Bloomberg terminal or some third party aggregator, people will pay the big bucks for whatever gives them an edge, even if it's vibes-based analysis. Or, they use those phony reports to justify the info they got that is very clearly insider trading.
It's even more silly when the Fed says literally anything. There will be reports everywhere saying shit like "the last time the Fed chair used the word 'defined' three times we saw a huge downturn". But it's sort of a self-fulfilling prophecy because these people control the very market that they're betting on. So when they panic because the seers augur famine, the money pulls out and things dip.