If I asked you to bet on a race between Usain Bolt and Bobbi Gibb, you would probably first ask who is Bobbi Gibb–first woman to run the Boston Marathon, and secondly, what distance is the race?
100m, 200m, 400m, 1 mile, Marathon?
In the investing world, the distances also vary considerably: 1 day, 1 week, 1 month, 3 months, 1 year, 3 years, etc…
It’s like the participants are playing by a different set of rules because in fact they are. Some talk in milliseconds (see Flash Boys) some in days, some in what is going to happen in the next quarter or 6 months?
If you know where you talents are, you should play in the game that suits you best. I know a few investment managers who still request that the companies send these managers paper copies of their annual reports. These people aren’t worried about what happens in the next day. I rarely read a 10Q–the business shouldn’t change much from quarter to quarter (I know of one company that shifted from identity theft to electronic dog collars within a 6 month period–not a current or future investment).
If you are Michael Jordan, stick to basketball, we all know how baseball worked out for you.