Two great minds of our time, Jeff Bezos and renowned investor Wilbur Ross, recently discussed information in two separate interviews. Harvard interviewed Bezos in October 2007 and Fortune Magazine interviewed Wilbur Ross in March 2010.

Mashing up Bezos’s and Ross’s insights about information, I built this checklist that helps us think about how we use information in our trading activities:

1. Information perfection is on the rise.
2. Information costs are going down.
3. Market information is timely.
4. Market information is abundant and it overwhelms.
5. Market participants have not demonstrated more ability to gain meaning from more information.
6. Therefore, the value of the expertise and ability to interpret information goes to infinity.

Since it has never been cheaper and easier to access the internet information reservoir, the value of trying to assimilate more of it goes to zero.

Traders should focus on honing their ability to interpret vast amounts of information instead of trying to get more of it.

Experimentation—at Bigger Capital, we have decided to explore the following avenue to boost our ability to interpret information better:

We have begun viewing our interactions with other market participants and information obtained from these interactions as defining an internet space in which we operate. Our challenge is turn that space into a creative space in which ideas can collide, fuse, and recombine into some powerful trading insights.

We are just starting to walk along this dark alley, but we will keep you posted on our progress.

Do you have any insights into how traders can increase their ability to interpret information?

Written by Michael Bigger. Follow me on Twitter and StockTwits.