John Forman

Why Technical Analysis is Nonsense

Firstly, why does "The Prince" refer to himself in the 3rd person?

Secondly, "anecdotal evidence" doesn't convince me of anything.

Thirdly, has the author actually been in a meeting or on a phone call where a money manager talked about using technical analysis and got laughed at?

I'm well aquainted with the type of financial theory taught at the university level. It is almost exclusively oriented toward institutions (large portfolio management) and of little practical use for individuals. Second, there have been some very serious changes in the views among leading academics regarding technical analysis (sometimes referred to as Behavioral Finance) which has yet to really filter down to the classroom.