One of the great things about modern equity research is the concept of a level playing field – as long as current laws and regulations are obeyed, everyday mom-and-pop investors generally have access to the same level of information & fundamental data on a company as institutions & the so-called “smart money”. This key information that impacts the present & future direction of a stock’s price can come from consistently published macro & company-specific statistics, competitor data, management interviews & conference presentations, and above all, quarterly earnings.
With the exchange industry’s earnings deluge largely behind