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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (6425)11/3/1997 6:28:00 PM
From: hasbeen101  Read Replies (1) of 9285
 
With all the discussion you guys have here. I wonder what happened to efficient markets?

A fascinating question. Most small-time speculators are blissfully oblivious to the evidence about efficient markets. But more and more academic evidence is being published to show that abnormal profits are possible, just not easy to get. I'm convinced that if you really understand the businesses you invest in, you can beat the market.

BTW, I live in Australia, and the Australian market has been shown to be less efficient than the US market. One funds manager has exceeded the index by about 10% every year for the past 5 years, and even the efficient markets devotees admit that the likelihood that this was due to chance is infinitessimal.

But consistently making money from trading id definitely not like shooting fish in a barrel...
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