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To: Chip McVickar who wrote (6042)10/15/2001 7:30:20 AM
From: Moominoid  Read Replies (1) | Respond to of 8150
 
Yes in theory the total variance can be decomposed totally into deterministic cycles. That is the theory of spectral analysis. But as I said only a couple of cycles show up as explaining more than their fair share of the total variance in stock prices or returns. Which appear as peaks on the spectrum. So other significant cycles must be non-deterministic. i.e. irregular.