Few people can combine the ability, knowledge, and timing to foresee and profit consistently from future events. Whether the in-laws can or cannot predict the future is beside the point; they don’t have to – they already know how to profit from studying the present.
“Don’t trust anyone over thirty and don’t trust anyone thirty or under.”
The most successful horse players (I guess they lose the least) are the ones who don’t bet on every race but wager on only those occasions when they have a clear conviction.
Don’t screw up a perfectly good stock-market strategy by diversifying your way into mediocre returns.
Prices fluctuate more than values—so therein lies opportunity.
The market may not agree with you in the short term, but you have to stick it out to get right.