Thought this quote was interesting.
My motto as a research analyst is, “Talk to an industry participant every day, or I fail.” If I am not on the phone or meeting in person with someone who works in the industry that I cover then I have failed as an analyst that day. So I spend a lot of my time trying to create a mosaic of research by finding as many people in the industry who are working day to day with advertisers, publishers and content creation—[people] who are excited to talk about what they do. (Brad Slingerlend, Janus)
Just one danger I see in it: getting caught in the mood of the day, as you're being influenced by real-time information and not so much long-term trends. I guess the best analysts can filter correctly and have good judgement about what an industry participant leaves out when he/she is talking.
I wish I could talk to central bankers on a regular basis (well any basis :D). Anyone who does must have a nice information head start.
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