The Ghost Train
THE FINANCE GHOST: Writing, ’rithmetic … and, above all, research
Retail investors might feel they are at a disadvantage compared with the big guys, but Stats SA offers a trove of free data that can help to even the score
Retail investors tend to focus on Sens and only Sens when it comes to making investment decisions. After all, this is the official channel through which information is disseminated to the market, ensuring that everyone has a fair chance and receives information at the same time. Right?
In such a world, what then is the role of sell-side analysts? Their work is available only to institutional investors who are able to pay for it, effectively creating an “unfair” advantage for themselves by getting higher quality information. Sell-side analysts piece together various sources to try to figure out what might be going on out there. Naturally, company announcements are a major part of the research process. By the time it’s on Sens though, it’s too late to have any kind of edge with that information...
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