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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (48049)	2/20/1999 12:38:00 PM
From: BGR	Read Replies (1) \| Respond to of 132070

Antoine, It has it's use for me. Only in an inefficient market can the average investor hope to beat the risk-adjusted return of the indices as (s)he may have superior information or interpretation. But not in a market like this IMO. So, indexing is superior to other investment strategies in this situation, as is clear from the past few years' market data. The central tenet of being a contrarian is that the contratian is smarter than the aggregate market. Well, the EMH implies that when there is efficiency in the market, the contrarian is more often wrong than right (but not in an inefficient market). As for shorting, the funds can always short the futures. -BGR.

To: accountclosed who wrote (48049)	2/20/1999 12:46:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

roq, anybody who has been in the market 6 months and has 2 connected synapsi, imho, understands the utter innefficiency of the market. the reason? good research can expose the truth. stock price is mass perception. they frequently are so far apart as to be comical. what impacts perception? did it go up yesterday? are my friends talking about it? what the 10q says? NOT! analysts don't even read them anymore... what the analysts say? to rephrase, what the company management says? psssssssssst - to all the naive folks, they have a vested self interest in the polyana view, even if its occurrence is highly unlikely in the set of all outcomes. garbage in, garbage out. yes, that is why there is a wreak...