Through detailed analysis, he notes significant flaws in both techniques, concluding that, for most investors, following these methods will produce inferior results compared to passive strategies.
通過进一步分析，他指出這兩种技術的明显的缺陷，得出的結論是，對於大多數投資者來說，以上這些方法都會產生相对于被動投资策略较差的投资回报。