This piece was prompted by a recent post on Value Discipline. I suspect it will be of little interest to most readers. It is a long, plodding piece that contains two extended quotes from dead men. However, if you are interested in the discussion of technical analysis and value investing, you may wish to read it. In either case, you will want to read Value Discipline’s shorter and more interesting post.

Let me first say that I do not now engage in technical analysis; nor, have I ever engaged in technical analysis. I do not believe doing so would be a productive use of my time.

Having said that, I do not claim technical analysis has no predictive value. In fact, I suspect it does have some predictive value.