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Politics : Ask Michael Burke
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To: BGR who wrote (68670)10/5/1999 9:09:00 PM
From: pater tenebrarum  Read Replies (2) of 132070
 
BGR, with all due respect, belief in efficient markets is just that: belief. markets tend to overshoot and undershoot, often by big margins due to the herd's psychology. if you call the late 90's stock market efficient, you must be dreaming. even if there is no objective yardstick for valuation, efficiency is most certainly a poor explanation for some of the moves certain stocks make. not even Ballmer believes in this anymore...<GGG>

regards,

hb
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