Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : SAP A.G. -- Ignore unavailable to you. Want to Upgrade?

To: mauser96 who wrote (2515)	9/9/1998 4:54:00 PM
From: growthvalue	Read Replies (1) \| Respond to of 3424

Don't get me wrong, I was just being nit-picky - I don't actually happen to think the "random walk" theory is correct. I also don't think that the statistics stack the deck. I had a professor once who believed in the random walk and argued that although it SEEMED that some mangers outperform the market, if you adjust the performance of the outperformers by risk, then they actually aren't outperforming the market. But this is somewhat tautological because "risk" is in part function of the degree to which a stock's performance diverges with the averages. In other words, I'm pretty sure that a stock that outperforms the averages is riskier than the averages by the popular academic definition.