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Politics : Ask Michael Burke

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To: accountclosed who wrote (48047)	2/20/1999 12:00:00 PM
From: BGR	Read Replies (1) of 132070

Antoine, EMH incorporates interpretation as well as information. If the short funds are lacking in cash, then perhaps the average market interpretation is that there is not much money to be made in shorting. EMH requires two basic things, one, rapid information dissipation (made possible by the internet and other mass media) and two, rapid incorporation of interpretation based on information into security prices (made possible by liquidity and short-term trading opportunities). You may disagree with the interpretation which may be biased in a particular direction, and not with EMH which makes no assumption about the interpretation. -BGR.

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