July 6 2016
Back in the heyday of Messrs Graham and Dodd, information used to be a scarce enough resource that incremental titbits could provide big alpha-generating advantages.
However, the daily news flow emanating from business channels and the internet has become so ambiguous in the modern investment era that it could even be regarded as a performance detractor.
Suffice it to say that this "noise" has made it difficult for most modern investment professionals to focus on the issues that truly matter.
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