“Don’t fight the tape” is one of those old Wall Street adages that shows up in different permutations and derivations when you read financial commentary. Humphrey Neill once said “Don’t follow the crowd, learn the tape!” Ace Greenburg once advised investors to sell any stock that goes down five days in a row. Yale Hirsch told investors to buy their stocks on Monday and sell them on Friday. Heck, even one of my investing heroes Benjamin Graham once said something along these lines when he advised to “never buy a stock right immediately after a substantial rise or sell after a substantial fall.”
Originally posted 2013-06-16 04:59:16.