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

To: yard_man who wrote (87489)	12/22/2000 9:32:19 PM
From: Knighty Tin	Respond to of 132070

tip, You are right about efficient markets. If players say that somebody else is watching the marketplace and they don't have to, then the market is not really efficient. You have certain players with superior information and probably superior results. That is one of the problems with Modern Portfolio Theory. One assumption is that all players know all the information at the same time. Uh, doesn't happen. I remember a few years back when Micron eliminated their dividend and the #1 chip analyst on Wall Street carried the dividend in his reports for several quarters after the cut. True, it was never much of a dividend. But the fact that he didn't have a clue about the elimination has to make you wonder what else he didn't know about the co. And what else the investors who followed him like sheep didn't know about it.