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

To: Freedom Fighter who wrote (68695)	10/6/1999 3:55:00 PM
From: BGR	Read Replies (1) \| Respond to of 132070

Wayne, In summary, the future is unpredictable, thus making accurate valuation impossible. The best that an average person (like me, for example) can do, IMHO, is to accept the collective assessment of value. Price and fundamental value is either in sync under collective assessment, otherwise, price gets readjusted till the two are in sync. In an efficient market (with sufficient liquidity, information flow and low transaction cost), the readjustment process takes little time. So I guess the only question is whether or not the particular market is efficient. I think the present state of the equities market is fairly efficient. -BGR.