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

To: accountclosed who wrote (48180)	2/21/1999 5:46:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

row, actually, i agree with both of you ;-) he isn't saying the market is efficient in the sense stock prices reflect reality. he is saying that perception, however right or wrong, is reflected in the stock price. in the latter sense, the market is pretty darn efficient. in the former sense, it is a running joke that get funnier by the day. liquidity is one caveat also. so, none of my stocks are efficient ;-)

To: accountclosed who wrote (48180)	2/21/1999 5:51:00 PM
From: BGR	Respond to of 132070

Antoine, I have a lot of respect for full time traders as they provide the liquidity and analyses required to make the market efficient. However, since there are too many independent studies to show that as a group short-term traders lag the indices, traders' feelings about EMH are really irrelevant. It is hardly my goal to act as a career counselor. I am only trying to present a different viewpoint (with data and logic, I hope) and I do appreciate the civility that most in this thread display. BTW, don't contrarians love contrary views? ;-) -BGR.