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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Curbstone who wrote (123270)	8/16/2002 2:32:54 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 152472

actually (in addition to that first Smithers paper i recommended to you), i would also highly recommend that paper by Smithers & Wright (the economic consequences of alan greenspan). i get bored by your standard-issue greenspan diatribe, but this paper is actually a very good explication of Tobin's q as well as a refutation of EMH (efficient market hypothesis). the comparison of EMH to creationism was quite funny. i would recommend reading this paper before reading the first one i recommended (on equity valuation) because this one does such a good job of laying the groundwork for their q argument. the thing is, a refutation of EMH is not the same thing as saying indexing doesn't work. this is something that trips people up sometime, when they accuse me of being an EMH proponent (which i am not). recognizing there are problems with EMH is not inconsistent with recognizing that alpha has no persistence. these are just the facts. but that's a whole nuther argument i'd best not get into right now...