Editing 2270: Picking Bad Stocks
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==Transcript== | ==Transcript== | ||
+ | {{incomplete transcript|Do NOT delete this tag too soon.}} | ||
[Cueball and Ponytail are walking together.] | [Cueball and Ponytail are walking together.] | ||
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:Cueball: What ''is'' investing? Do you just open a website and pick the companies you like? | :Cueball: What ''is'' investing? Do you just open a website and pick the companies you like? | ||
β | [ | + | [Ponytail holds out her hand palm-up.] |
:Ponytail: Well, you totally can. | :Ponytail: Well, you totally can. | ||
:Ponytail: But there's a lot of evidence that no investing strategy consistently picks stocks that outperform the average of the whole market. A lot of fund management is a myth. | :Ponytail: But there's a lot of evidence that no investing strategy consistently picks stocks that outperform the average of the whole market. A lot of fund management is a myth. | ||
[Close-up on Ponytail, who has turned to Cueball.] | [Close-up on Ponytail, who has turned to Cueball.] | ||
β | :Cueball | + | :Cueball: Huh, okay. |
:Ponytail: But there's a weird corollary to that idea: it implies that, ignoring fees and stuff, it's just as hard to consistently ''lose'' money by picking ''bad'' stocks from an index. | :Ponytail: But there's a weird corollary to that idea: it implies that, ignoring fees and stuff, it's just as hard to consistently ''lose'' money by picking ''bad'' stocks from an index. | ||
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:Ponytail: In a way, bad judgement is just as helpful as good judgement. | :Ponytail: In a way, bad judgement is just as helpful as good judgement. | ||
β | [ | + | [Cueball raising his hands.] |
:Cueball: Oh my God. | :Cueball: Oh my God. | ||
:Cueball: I can do that! | :Cueball: I can do that! |