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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Bruce Brown who wrote (39997)	3/5/2001 9:25:35 AM
From: JAPG	Read Replies (2) of 54805

BB About 20 years ago, when I was a university student I was asked to read a paper from Milton Friedman called "Positive Economics". Among other things, in that paper Friedman described the metaphor of a billiard game played by a physicist and a non-schooled experienced billiard player. The physicist could calculate precisely all the equations required to achieve the objective of the game, the billiard player didn´t have any mathematical knowledge. Who do you think would win such billiard game? Geoffrey Moore is the physicist that has created a sound investment framework that we can benefit from, but that doesn´t make him a good billiard player (stock picker or market timer). At least, this is very clear in my mind. OT, PS: Friedman used such metaphor to explain that individuals participating in the market didn´t have to know the equations that described the market. Nevertheless: the market, in an aggregate from, acted as if it followed those equations. Take care JAPG

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