What are the shortcomings of fundamental analysis?

The main disadvantage of fundamental analysis is that it is a complex and time-consuming process. Investors need to minutely examine the financial data and other economic parameters to come to a conclusion. Secondly, it is based on numerous assumptions and interpretations. Small forecasting errors can result in losses for investors. Investors shouldn't depend solely on publicly accessible historical data because its authenticity is doubtful. Investors must be able to filter out critical information while ignoring companies' ambitious expectations. Thus, fundamental analysis is an effective and powerful tool for investors to make decisions, but it needs to be studied, diving deeply into the details.