Summary
Phil Anderson introduces the concept of “Skew” in stock market returns, arguing that most stocks on most markets go nowhere over time while only a few perform strongly. He draws a parallel to Gann’s own hand-drawn charting practice as evidence that Gann would have observed and understood this same skewed distribution of stock performance.
Key Claims
- Most stocks on most stock markets produce little or no return over time — confidence: high
- Gann’s habit of hand-drawing charts would have made him acutely aware that some stocks stagnate while a few significantly outperform — confidence: medium
- Understanding skew is presented as a key framework for identifying the stocks worth holding — confidence: medium
Mex Pete References
None.
Stock Picks / Signals
None.
Predictions / Forecasts
None.
Notable Quotes
“Over time, most stocks on most stock markets don’t go anywhere.”
“Gann hand drew a lot of charts. He’d have noted that some stocks go nowhere, some stocks do very little over time, and a few do really well.”