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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (38313)	12/5/1998 10:34:00 PM
From: Ilaine	Read Replies (4) of 132070

I think Mary's point was that, despite individual instances of irrationality, overall the market is rational. I know that is antithetical to Burke's contrarianism, but at the same time complimentary, because he also assumes that the market is, at least, predictable, which is not so different from rational. We are all standing around guessing, and betting, based on past performance. Whether or not the market is rational, being able to intuit which way it will go requires an implicit belief that future movements can be predicted by the past.

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