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Good post, T4A. I think it sums up the debate quite well and makes some very good points. I like your swiss army map example. Except that I'm one of those who believe that the purpose of economics (and any other science) shouldn't be simply discriptive, to purely explain as best as possible...

Not sure who's eating who :D

I did not cherrypick my responses, I tried to respond to each and every attack. I did not say anyone could play as well as Jordan, only those with innate abilities and training, can you freaking read??? and yes, if you are not smart enough, then do forget about makin money trading, that WAS...

Whatever, so do mine. You are not gonna get it anyway.

Your knowledge of what they were doing seems to be very perfunctory. <i> That one sidedness is remarkabley naive. When you are making money, it is because you have a PhD and are smart. When you are losing money it is because you got 'unlucky'. </i> Once again, they WERE correct in their...

Just how much can you make off of those???? If it's a lot, you are right, markets are blatantly inefficient but one has to be as smart as you are to see them. Otherwise, lots of others would too and they would disappear.

No, read my recent posts, I already explained it, if you can compehend it, that is. And to show you that I'm not Aphie, ja mogo svobodno zakonchit' eto predlozhenije na Russkom... Or I can do it na Ukrainskom...

You can think whatever you want. English is my forth language so if I my spelling is messed up sometimes, I think it can be forgiven. I'm flattered you think my English is good enough to accually assume that I'm the same guy as Aphie, who is a native speaker. :D By the way, if you dig enough...

Do not forget that they DID make a lot more than most of us together have or will. They just got unlucky in one particular instance. Give the guys some respect...

Given how successful they were in general, I don't think you can call them idiots. And yes, they did assume the market would do this or that. And in most cases it did. In the case that brought them down, as far as I remember, they were just off in timing b/c it took longer for the market to...

Thanks for pointing it out. Except I don't see what kind of a point you can make with this. It took me many year to find what I found (and lots of really sophisticated training you won't get in your TA books that get cited here and there on this board.) I got some useful advice on the board...

How dumb can you be, with all due respect? Just b/c there are tiny inefficiencies, does not the mean the market is inefficient. B/c finding them/trading on them will entail the costs and risk commensurate with returns. And such trading will make them evaporate. I'm glad you took the time to...

Many can play as well as MJ (not anyone) if they spend as much time training as early on. They have to have the innate skills and those acquired through training. I agree with your latter point. More so, I happen to believe that there are very few people who can race a formula one car...

MORE efficient for the reasons I'm already mentioned. The whole idea of FD was to make access to info for equitable. Just b/c it lead to more spikes when info is finally released (with less informed trading prior to it) or to less accurate analyst estimates b/c they don't get any "tips" does...

No, I think you do understand me correctly by choose to try to make fun of what I say by convoluting the logic. I'm saying that you have to be really smart and have the appropriate training to find any niches of inefficiency, and those will evaporate very soon either b/c of your own trading or...

Folks, how can you all read so selectively, pick out something out of context and try to rip it apart??? Aphie, no markets are not like chess, they are more like Formula One. And to me, all the unprofessional daytraders are like little kids riding their trycicles on the racetrack during a...

I think at this point pretty much all that could have been said about what EMH is about has already been said many times. The thread is getting so long people just read the stuff and the end and raise the questions already answered. Just posting for the fun of insulting each other is no fun...

Hahaha. You keep annoying me and I'll tell you what I really think :D No I think you are out to get your ass kicked. Maybe not now, maybe not next year.... But when you do, I wonder if you'll feel about yourself the way you feel about STCM guys. Example, may be. Unfortunate tendency...

Keep your condolences for yourself. You do have a PhD from a top ten university? Weird. Must not be in finance or economics. b/c you should know what efficiency is otherwise. And nope, at least two professors I can think of at my school do drive jaguars and are worth millions. I'd just...

Everything in that clip makes perfect sense expect for the added thoughts of someone in the last paragraph :) So fW@#$ what that some moron investors base their expectations on past prices? Trading of such investors will indeed make the price deviate from the true value (which should only be...