"Any good stocks?"—I'm often asked this in my line of work, but for serious people I can't give a simple answer. Everyone has their own "investment method," and there are stocks suited to that method, or judgments of "sell" or "buy" based on the criteria of that method. This series, "The Heart of the Market: The Essence of Trading," is a reading material to share insights into the nuances of trading with you—someone with a strong sense of independence who wants to trade without relying on others' predictive information. Norihiko Hayashi of Hayashi Investment Research Institute discusses various topics and presents the perspective of a professional trader.