for any type of analysis one requires data. for a sound FA, the figures are not enough. company visits, interacting with the top brass etc etc are part and percel of the game and are normal practice.
the only data which a retail investor can put his/her hands on, is the balace sheet which the companies provide. but sadly it not always gives the true picture of the company, rather it shows a picture which the promoter/dicrectors of the company wants to show. fiascos like enron, tyco, ca etc are just examples of how this trend is prevelent even at the best of regultory environments.
most of the fundamentel analyst (read retail guys) are nothing but, as oxy already said, are news readers. any person who is willing to dig his/her head (read has 12-16 hours to spare) in FA, getting data is extreamly difficult unless he/she is part of a professional team (with any broker or institution). this makes FA somewhat redundant.
the only data which a retail investor can put his/her hands on, is the balace sheet which the companies provide. but sadly it not always gives the true picture of the company, rather it shows a picture which the promoter/dicrectors of the company wants to show. fiascos like enron, tyco, ca etc are just examples of how this trend is prevelent even at the best of regultory environments.
most of the fundamentel analyst (read retail guys) are nothing but, as oxy already said, are news readers. any person who is willing to dig his/her head (read has 12-16 hours to spare) in FA, getting data is extreamly difficult unless he/she is part of a professional team (with any broker or institution). this makes FA somewhat redundant.