Stock picking is not a first pass post business game like that of horse picking searching for a winner. There is no investment objective in picking a stock without considering the business behind the stock.
Picking a winning horse to win at the Preakness is easy if you should go by the past record of that race horse, but not only is the horse's past record important, but so is the jockey's ability to bring the horse home to the winner's enclosure.
A stock is tied to a business and the business is tied to the management like a jockey to a horse. So the management of the business is so important when picking a stock.
Light weight is a competitive advantage for a winning horse and low cost is a competitive advantage for a winning stock.
At the racetrack it may be in your interest to watch the tote board every race, but at the stock market there is no need to watch the ticker board every day.
You will have to throw away your losing ticket at the racetrack, but at the stock market, you can hold your ticket until another day, months, years when Mr. Market feels a little enthusiastic to take you up on a higher price than you paid for that stock.
I'd rather picking stocks over picking horses to win.
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FII
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