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Politics : Ask Michael Burke
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To: BGR who wrote (79839)4/18/2000 3:22:00 PM
From: Freedom Fighter  Read Replies (1) of 132070
 
BGR,

Warren used an example like that to prove that value investing works. He pointed out the probabilities that a handful of men who all had the same teacher and all beat the market using the same method was a result of luck were so ridiculously high as to be impossible.

I believe it's the efficient market crowd that believes Warren was lucky. (g)

I am not dismissing luck as a factor in these sorts of things, but the people I know that are beating the horses are betting in a value based manner also. The number of bets involved over the years makes the chances that they are all being lucky impossible. Especially when they are using similar but not exact methods to determine the appropriate odds.

I maintain that lots of people are making money on options.

Wayne
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