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Politics : Ask Michael Burke

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To: BGR who wrote (48048)	2/20/1999 12:11:00 PM
From: accountclosed	Read Replies (2) of 132070

I'm not sure how to react to this one. My first reaction is that the theory you are representing, if it includes interpretation, then has protected itself. It is then beyond reproach. The theory is perfect. But it also then is of very limited value. I mean the statement that prices reflect what everyone is feeling about prospects is true and so what? Prices are what they are. How can I dispute that. But what value does that have to me? The second reaction I have is that the rules of the exchanges make it harder to short than to go long. The up-tick rule, the requirement to being able to borrow the stock, etc.

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