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Technology Stocks : DELL Bear Thread

DELL 122.55

+4.4%

Nov 21 3:59 PM EST

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To: Moominoid who wrote (1697)	9/2/1998 12:41:00 PM
From: Stewart Walton	Read Replies (1) of 2578

Your description of the stochastic process underlying stock price variation doesn't help me a bit. If the drift term is noisy (a random walk itself), then it just adds its noise to the overall process. It certainly does not make it more predictable in the sense of knowing where the price will be or "should be". And if the underlying process is not random, then the defense of statistical methods is flawed. Personally, it all appears to me to be so much handwaving and smoke blowing.

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