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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (7998)	8/23/1999 7:22:00 AM
From: orkrious	Read Replies (2) \| Respond to of 15132

Can you provide some references? Andrew, I knew when I wrote that sentence someone would want a link. <g> It is a refrain I have heard for years, but off the top of my head I can't think one. The research on EMH that I am familiar with does not make the conclusion that "virtually no one" can time the market well enough to beat the averages. What is EMH? Do you mean efficient market theory? Assuming you do, I don't believe in it. Now you'll want to know how this jives with my post? I don't believe that anyone can beat the market in the long run by trying to time being in and out of it. That said, there are always bargains galore, as The Street overreacts to bad news, then FEAR takes over, as person after person cannot take any more pain, driving the stock price lower and lower. Examples, semi-equips last summer-fall, IDTC today. On the other hand, stocks get driven up to unreasonable levels as the opposite happens. Pare back winners as that happens and look for other undervalued gems. My point, don't leave the market, just be consistent with your good strategy and stick with it. That is the way to beat the market. I know some people will take issue with my ability to provide a link. Maybe Ian can??? <g>. Jay