Why invest in stocks if you don't have a reliable way to measure the investment and return?
Fundamental analysis lacks transparency Eron, Greece, y2k bubble, zzz best, Sunbeam and etc...
Technical analysis lacks consistency also as example we could say: countless gurus who make 2 or even three right predictions but fail to see the 20 opportunities etc..
Absolutely! You said it right for you. The more far you are from the place of business, the harder will be for you to predict and evaluate correctly the future outcome of that company. If you have your own company, and you know you get 30 customers every day, to purchase your pie cakes, and you earn US $300 every day, you can very well predict, that investment in your company will be profitable, if you increase the bakery space, the ovens, and employ few more people and raise marketing efforts.
If someone is far away, how he or she may see what is really going on in your bakery?
The distance to the business is the practical obstacle to understand about the outcomes of the investment.
Buy stocks, only after you have done your careful analysis of the company where you are investing. Best would be to simply walk in the company, personally and physically, and to understand their finances and needs, and then to make a proper decision.
Maybe your best investment would be to help a brand new attorney to open up their offices, in your neighborhood, or help a new dentist purchase the medical equipment, and share income with them. You will know those people, you invest in their businesses, and you can control your outcomes.