RE: [RT] Swimming Against the Tide

["Norm Winski" <nwinski@xxxxxxxxxxxxx>]

Hello Howard,

 

 I saw it in the Wall Street Journal as Goldman Sachs sponsored research.

 

Regards,

 

Norm

 

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From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of hbernst963@xxxxxxx
Sent: Monday, May 22, 2006 1:22 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] Swimming Against the Tide

 

In a message dated 5/21/2006 3:40:50 P.M. Eastern Standard Time, nwinski@xxxxxxxxxxxxx writes:

Here is something that every stock picker needs to know.

  50% of all individual stock price behavior is attributable to the general market trend.

 Another 35% of individual stock price behavior is attributable to its industry or sector.

 That only leaves a 15% probability that all of your hard work picking individual stocks will translate to anything.

I seen those numbers mentioned over the years.  Can anyone quote a study or 'proof' of this statement.  Where do these numbers come from and how accurate are they?

 

Howard Bernstein

 

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