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To: BGR who wrote (160)	2/12/1999 3:41:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 419

BGR, I for one find the weak form and semi-weak forms especially appealing. Furthermore, LTCM lost millions on arbitrage deals like the TLAB/CIEN merger (shorting TLAB and going long CIEN). The risk in the position was that the merger would fall apart (which is exactly what ultimately happened). This does not speak in any way to the validity of the EMH. In fact, as cracks in CIEN's operations began to appear the arbitrage spread began to widen significantly prior to the dissolution of the merger agreement. TTFN, CTC

To: BGR who wrote (160)	2/13/1999 5:29:00 PM
From: Reginald Middleton	Read Replies (2) \| Respond to of 419

Do you think that the recent influxof significant naive money into the market (in the form of discount brokerage acccounts, amateur daytraders, SI patrons and the like) negates, at least in part, the base assumptions in EMH? What is your opinion of those that have consistently beat the market in relation to Efficient Market Theory (you should not use acronyms, for those that are not familiar with them cannot gain full benefit from the debate)such Soros, Buffet, Lynch - and RCM as well for the last four years? Seriously, I was just baiting you with the article since the thread is less than lively lately.