Another excellent interview from Federal Reserve Bank of Kansas City President Thomas Hoenig.
Hoenig is an adult with a rational, thoughtful take on the Fed’s mandate and the limitations of what they can and should be targeting. Hoenig says there’s a limit to how much more the central bank can do and that the focus should now be on solving the country’s fiscal problems. From Jackson Hole, Hoenig talks with Bloomberg about the Fed’s mandate, the outlook for monetary policy and business sentiment. Watch the clip here.
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why is it most money managers still regard technical analysis as a load of nonsense. Danielle your a CFA what is your view on TA? Is it worthwhile to study and use it as an investment tool?
Yes, my partner is a techician and I am a fundamental analyst. We believe it is best to use all the tools possible to effectively manage risk to capital. Most funamental analysts are overly-confident in thier education and theories and dismiss TA as a voodoo practice because it often disagrees with their fundamental investment bias or long term thesis. It seems to threaten them so they discard it. What is most useful about TA is its focus on historical behaviour of markets, humans and cycles. Without that, I think investors or those advising them are lost and dangerous.