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Technology Stocks : The Learning Company (TLC) -- Ignore unavailable to you. Want to Upgrade?

To: paul richards who wrote (5842)	9/30/1998 12:57:00 PM
From: softcash	Read Replies (1) \| Respond to of 6318

Paul, ever read the book, " A Random Walk down Wall Street" ? I think that is the title. Anyway, if you did not read it, this book proposes that our markets are efficient. Your statement, "there's always someone who knows more and will dump before anyone knows what hit them." is the basis for my current beliefs in stock market investing. Namely, IT IS NOT a RANDOM WALK. This is because everyone DOES NOT get the same information at the same time. With this fact alone - that book, which is required reading at some business schools - is a B.S. book. Why else are there run ups days or weeks in a stock's price just before a company announces being bought out. One of my favorite examples is LOTS, Lotus just before they were bought out. Obviously the pee-ons (me and most other people) are not getting the same information in a timely manner. So, since we can not get the same information as the rich people, are we forced to look at strange and abnormal volume characteristics and the options markets for large puts and calls? What else is there (for the pee-ons) to indicate that big news has leaked? Perhaps, a witch board, tee leaves, etc.?