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Strategies & Market Trends : Gorilla Game Investing in the eWorld -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (811)	11/22/1999 8:55:00 AM
From: Mike Buckley	Respond to of 1817

Jim, ... Fundamental Analysis doesn't work... I'm going to go out on a limb here and accept a small amount of debate, despite that I'm not inclined to debate anyone who blatantly says any particular kind of analysis doesn't work. I imagine that any type of analysis, when executed properly, works at least some of the time and there is a distinct possibility that they work all the time though for different reasons and to different rates of success. I accept the fact that there are many factors affecting the market that fundamental analysis doesn't address, but that's a far cry from saying it doesn't work. Consider the example of momentum players, a factor not addressed by fundamental analysis. Having decided that a stock is one to buy using fundamental analysis does not preclude that the momentum players won't help drive the stock up. Rather than thinking fundamental analysis doesn't work, I'd instead say that regardless of what method(s) of analysis we use, the ineffecient market theory is always at work. It's our job to take advantage of the inefficiencies in the market and to be aware of when those inefficiences work for and against us. --Mike Buckley