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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: MGV who wrote (11754)6/4/1999 12:56:00 AM
From: Rich Wolf  Read Replies (1) of 27311
 
Complete market efficiency would require perfect transmission of information. Markets aren't efficient when they have incomplete information.

You also say, "All of the data points concerning this company simply do not add up to (the) view you hold." Without meaning to, you state something correctly: MOST of the data points DO; what is missing is the essential data point, namely that a customer has accepted and is paying for their product. I am comfortable interpolating that point from a wide array of secondary sources of information. The 'market' you (temporarily) hold so high and dear hasn't the time to do that for every case, and has missed something here. It will indeed react quickly once presented with that data point. THEN we'll see your efficiency indeed, as the shorts get squeezed.

Stick to the courtroom and leave the economic theory alone. You stretch it too painfully.
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