This entry was posted on Tuesday, October 28th, 2008 at 3:57 pm and is filed under Introduction to Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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October 28, 2008
Technical Analysis does have its critics – those economists who say it is nothing more than a pseudoscience, one that has no basis in fact. Investors such as Warren Buffett and Peter Lynch say that there is precious little evidence that Technical Analysis works. However, various academic studies have shown that technical analysis, particularly when carried out by neural networks, can produce statistically significant returns, and many investors have made fortunes through the application of its principles. It is therefore unfair to dismiss it as mere nonsense, and one ignores it at one’s peril!
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