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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (18411)	1/24/2001 6:54:03 PM
From: Art Bechhoefer	Respond to of 60323

>>>I may be taking this out of context, but I think intentional was written in the first day of the first market.<<< Keith, though you may believe that people try to manipulate the market (and I don't disagree), my point is that for the free market system to operate as people assume it operates, you must have numerous buyers and sellers, low cost, timely access to information, and transactions small enough such that no single transaction affects the market price. When privileged information, such as opinions of highly regarded analysts, causes the stock price to fall because of certain sellers gaining access to information before the general public, then the market mechanism becomes distorted and the overall market becomes inefficient. The purpose of regulation, oddly enough, is to ensure that the market operates with as little distortion as possible. Libertarians may disagree with me, but one thing that is hard to dispute is that, because of securities regulations in our markets, going back to the reforms of the 1930's, we have the best performing markets anywhere in the world. Art