SNSN schreef op 13 januari 2014 10:13:
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There are many reasons for that, both basic and pure trading. Although, if you look at the messages regular, you’ll see that they are addressing all horizons - from days, months to years, when it is relevant, incl. quant explanations of fundamental factors and their changes.
Actually one should always look at the different time scales, from micro to macro simultaneously. Again, any longer time horizons are build up out of shorter ones... For kpn it’s much more important than for many other funds because of highly non-stationarity (time dependence) of underlying processes and, as a result, all p/v distributions. That’s why standard (stationary) TA is simply not applicable to kpn.
As for the “over-punished” stocks, many eu-telcos are highly undervalued...
As for the derivatives, you actually don’t need them at all, if you can trade regular in underlying. As you know, frequent trading in liquid underlying stocks (“synthetic” derivatives) fully replicate any derivatives portfolio....(in complete market)