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To: growthvalue who wrote (2511)	9/9/1998 4:34:00 PM
From: Sam Citron	Read Replies (1) \| Respond to of 3424

If you had a million people try to guess the outcome of 10 consecutive coin flips, approximately 977 people would be expected to get all 10 guesses right. I always thought Warren was just plain lucky, and maybe a more practiced bridge player than most folks.<g> Sam

To: growthvalue who wrote (2511)	9/9/1998 4:36:00 PM
From: mauser96	Read Replies (1) \| Respond to of 3424

What you say is certainly true, but I think the deck is stacked.The nature of statistics like this is that it would take so long to prove that random walk is false that we will all be dead long before then. I know that lots of professors believe in it, but very few successful stock market players do, including apparently the guy that wrote the book. IMHO the market is random or chaotic most but not all of the time. The only time you can "beat the market" are those unusual times of directional behavior. I can't prove this, but like random walk, it's equally hard to disprove.