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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (68691)	10/6/1999 4:19:00 PM
From: BGR	Read Replies (1) \| Respond to of 132070

Andrew, If prices reflect value accurately, and adjusted for inflation the economy keeps growing (which it has never failed to do in human history as productivity has gone up), wouldn't it make sense to invest? I was not worried last summer. I continued to DCA in S&P funds. My understanding is that several immature professional money mangers had already spent their big bonuses and panicked when Russia defaulted. ;-) Indeed, the EMH is just that, a hypothesis. However, I do not think that your assumption c holds for the semi-strong form. There is, however, overwhelming experimental evidence in support of the semi-strong form of EMH, by checking mutual fund returns over market indexes in the years past. Remember that theory of relativity was not proven for a long time, as well. -BGR.