Sorry, I was a bit busy yesterday. First, it's important to define "long term." If you want to hold a stock for 10 years, I think that the most important factor is the micro data of the stock. But this is not my game. I'm focused on more short-term moves. My analysis tries to catch the next few months, maximum next year. For me, obviously, macro data is very important. But I think that the market is the best source of macro data. Markets can anticipate every move in the underlying economy. So I think that is a more valuable source of information if your goal is to make profits. Ultimately, only price pays you. The internals of the market and the flows are a very unique approach. Breadth, ratios, spreads—all of these run in my models. If your macro thesis doesn't connect to price, for me right now, it's useless. Besides, you have position data that is another very important source: IV, skew... these measures in a cross-asset approach tell you so much stuff. In some kind of way, every trade is a volatility trade. I try to connect my macro thesis with the market, and only trade it if the market lets me do it. Im here to answer you whatever you want!
