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Politics : Politics for Pros- moderated

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To: Ilaine who wrote (15992)	11/13/2003 12:40:46 AM
From: Nadine Carroll	Read Replies (5) of 794407

And, over a period of time, some people will have extraordinary runs at guessing "right" many times in a row. Those people we call geniuses. We worship them. We hang on their every word, hoping that they can instill us with the wisdom of guessing "right" many days in a row. That's not how Warren Buffet looks at the market, and considering his results, I'm inclined to see things his way. Buffet has quipped more than once that he really ought to endow chairs of economics teaching the 'random walk' theory of markets; what could be more advantageous to him than crippling the competition in this way?

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