Fish below the surface
I am an avid fly fisherman. The first time that I stepped foot into the Bighorn River in Montana, I could see thousands of trout throughout the crystal clear waters. I thought to myself, this is going to be easy. With so many fish, catching many in a single day seemed a simple prospect. The truth is that first week I hooked one fish. Yes, one. Not easily deterred or distracted, I spent countless hours researching and acquiring knowledge.
That was 15 years ago and today is much different. I now know it is possible to hook 40–60 trout in a single, great day. So what is so different today? Over the years I have acquired the specific knowledge necessary to read the water and know exactly where and when to place my line. Most fly fisherman associate fly fishing with placing a fly on the surface to catch a fish, but greater than 80 percent of the time fish feed below the surface. Today my line rarely ever lies on the surface.
So why am I mentioning this about fly fishing? Well, for one, I believe there are similar parallels between navigating the stock market waters and those of the Bighorn River. Market participants are trained to determine the true value of a company and ignore market cyclicality like fly fisherman are trained to fish the surface of the water, ignoring what’s below. That was me more than fifteen years ago. Price Equity Research, through PER Interactive™ a global breadth research platform, allows you to successfully fish below the surface or in other words: determine market cyclicality before it occurs.
— John Price, CMT, PER President & Founder