Day trading guide – ) first became interested in the subject when a Keystone mutual fund distributor in Philadelphia called for help in the case of a local hospital's finance committee which couldn't decide on an investment policy for the hospital's endowed funds.
Warren drew up a formula, which presumably satisfied the committee, and went on to explore formulas extensively in subsequent years. Although the original impetus for formulas came from such large institutions, many of them have long since discarded the formula idea. On the other hand, a rising trend of popularity has been seen in the use of formulas by individuals, perhaps as a result of market experience in recent years, which has so often and so regrettably proved the experts wrong. A number of investment counselors, in fact, have adopted the policy of selling their services on the basis of formula investing techniques.5 DO FORMULAS WORK? The fact that some formulas have wound up in the junk heap after they proved inadequate to changed market conditions has led same observers to conclude that the whole idea must have been poor from the start.
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