I had a conversation with a friend last month about my distaste for the lifestyle and morality of investment analysts. This led to a debate on the absurdity of the stock market. My opinion was that the whole financial system has turned into a mechanism to make those most closely involved richer. My friend who works in the industry agreed.

Intro to Economics teaches you that markets are efficient. They are not. Some people will always possess inside knowledge, and chances are, you're not the one in the know. You're just an average Internet investor who may have been benefiting from a constantly increasing stock market (sort of like real estate). There's a joke among geologists that finding a significant well is like throwing a dart at a map - same goes for investing in stocks (except you pay commissions and management fees on top).

Mark Cuban's re-posts today explain it better than I ever could. Another example as to why this is one of the best blogs out there.

Speaking of morals, I'm off to Calgary tomorrow morning to help out a big evil oil company...

Labels: stock markets investment