Unfortunately, they do NOT offer the path to ongoing investment success. Stock picking, done properly, is visionary in nature. Predicting which way the market will go tomorrow is almost always reactionary. Several years ago in the computer science world, researchers were experimenting with neural networks. A neural network is a complex mathematical construct designed to simulate the reasoning process in the human brain.
Neural nets have the eerie characteristic of being able to learn.
In this particular experiment, the researchers wanted to teach the neural net to predict the next day's weather. At the neural net's disposal were reams of data about historical weather patterns, current atmospheric conditions, and many other things. After an extensive training process, the researchers reviewed what the neural net had learned. Most analysts offer reactionary advice because they base their recommendations on events which have already occurred. Examples include a decline in earnings, failure to meet earnings expectations, a decrease in profit margin, a slowdown in reorder rate, etc.