|Dennis. There're 2 kinds investment "professionals"|
Paid employees of W.S. Investment Banks like Goldman Sachs or other financial sales organizations that offer "Sell Side Advice" FWIW, completely disagree with you that what these folks say should be dismissed with a "grain of salt". Why? Because what they spew out constitutes one of an array of very valuable contrary indicators. An important category of analysis that improves decision making and portfolio performance. Combining it with other valuable analysis categories is something the best individual investor/traders AND the 2nd kind of investment professional find indispensable.
This 2nd kind of professional investor/trader isn't a salesmen pushing what his boss wants him to sell nor are they under the gun of sales quotas. They're independents who make their own decisions. The unsuccessful ones don't last long. I've known a few very good ones, including my mentor (decades ago) who made over a million $$, in one year. Saw the brokerage statements. If I remember correctly, he began the year with 2.1 million and ended with 3.2 million. He didn't sell his advice or receive compensation for recommending certain stocks. Neither have I since I left Merrill Lynch in 1982.
Cutting losses quickly is another very important tool because even the best investors and traders make mistakes. It's OK to be wrong. Not OK to stay wrong!. Successful independent professionals live by that rule. Sell side W.S. sales organization employees - whether analysts or brokers - almost never even mention it.
As I said the other day. No time for extended back and forth posting with anyone, no matter how much I like them. One reply is all I have time for. You have the last word if you wish.
P.S. Good lunch. Desert of fresh picked Yellow Delicious & Cortland Apples from our modest orchard.