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Dude, you have been making some strong judgements here and now admit and show that you have no idea what market efficiency even is. That's the problem with this board, too many people putting in their say when they don't have much to say but some insult or arrogant remark. To beat the market...

What schools teach is correct man. Can many freaking times do I have to repeat this???? Your professor probably drew a price chart for you and said, if the price becomes too low, people start buying and drive it up, the opposite happens if it's too high. the process of arbitrage insures it...

Maybe you should trying thinking before typing, just for a change. I was speaking about generalities and if you are intelligent enough, it should not be hard to understand where I was coming from. I did not say it was easy either. I was I said was that for a self educated college drop out or...

when the price is moving rapidly and there's a lag between T/S and LII, which is more up to day? It appears that T/S is, but I thought some of you may know better. Thanks.

OK, time for me to trade. So I pass the baton of defending EMH to... Heck, I'm the only one on that side... Well, enjoy ripping it apart folks. I'm sure you'll find the process very rewarding in theory. I hope the markets are as inefficient as you think and that you do make your money...

See, that's our difference right there. To you, they fucked up means they what they did was really wrong. Just as the collapse of the USSR is proof to you it was not viable. The truth is any thing can happen to anybody/any country. Some are not necessarily someone's fault and are totally...

For some people, you dont' have to be very old to understand things around you. It might have taken you a bit longer, but why should it take me as long??? Yes, I was born in 76, but I did understand what was going on and what wasn't. As a further proof of it, you once mentioned that you...

Dude! Finally a post by you I can agree on. Now that's smth that doesn't happen too often :D

As I said, those assumptions are irrelevant. If a news comes out, EMH doesn't say the price will shift to the new level and just stay there. You can have very varying opinions and there can be a lot of volatility around the new mean level. But the new mean level should be very close to the...

You are right that many don't care about the true value, but as I mentioned many many times here that is NOT necessary. Arbitrage will ensure it. That's what drives price discovery, not CEOs and the others you list.

You must have dug those either out of a very old book or a very simplistic one. As I mentioned in my recent post, there is ultimately only one assumption, if money is to be made it will be very soon and they won't be any left :D. All of the assumptions you list are just there to derive and...

Man, you have no idea how wrong you are. I just came back from one of those seminars and you have no freaking idea about how stimulating it was. Yes, to some myopic (usually old) professors what you describe might apply well. That does not mean it has to be true on average. Most of...

I DOES and IT IS.

I replied to your first post - it is NOT necessary for every one to interpret the information the same way. Buying during panics, selling during euphorias... Sure, that sounds like a great and a very profitable rule when you look back on the chart and identify those points in time. ....they...

???? it has been proven??? Come on. Yes, they can. with enough info they know the supply and demand, how hard it is to see the price???

How freaking come when I try to be polite someone like you comes in and starts thowing around insults and smirks. The when I fire back, all people see is my last post and blame me for "being so defensive". If you understood at least an iota what what the brainy guys at LTCM were doing (very...

What your professor was discussing were the later years of the USSRs era. That's when the execution of the system really got screwed up by those in charge. I was lucky to live before and after that stage and can assure you that before the perestroika ideas (very good in themselves) things were...

Yep, I agree, "Beyond greed and fear" is worth reading. We had that book as one of the assigned readings in one of our seminars a year or so ago. The paper I posted a few posts earlier attempts to address those irregularities and as I remember (I read the later published version, so the...

Again, trying not to reignite the ardent debate that took place in another thread on the issue, I agree that capitalism does a better job of giving incentives for people to do their best. However, it sucks at providing the so-called "public goods" b/c of the free-rider problem noone would pay...

Yes, couldn't agree with you more on that one and have been taught some myself. I just happen to believe that a general exposure to the basic ideas behind the Efficient Markets Hypothesis is not one of them :D At least not until a superior all-embracing model is put forth.