Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

AMAT 252.25

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Nov 28 9:30 AM EST

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To: FJB who wrote (3790)	10/28/2002 2:00:55 PM
From: Steve Lee	Read Replies (2) of 25522

OK, now read the rest of the article and note Buffet's views on the competence of investment fund managers. He does not consider them well informed even though they have a significant sway in moving the markets. I think you are assuming that the efficent market theory has some truth to it. If so, In Spring 2000, why hadn't the more informed investors brought the market to a point at which they anticipated the coming tech wreck? The markets are not efficient and stock prices are decided in the short and medium term by mania, money supply, and Wall St deception. Only in the very long term, does valuation actually conform to the genuine prospects of a company, sector or economy.

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