There are a bunch of caveats to the research that others bought up here. But my reading is that over greater than one day holding periods you would lose money,

There are a bunch of caveats to the research that others bought up here. But my reading is that over greater than one day holding periods you would lose money, and/or under perform against S&P. That’s my reading of the wall of text as someone with no real interest day trading, or really individual stock picking in general