Quote from optioncoach:
I was taught efficient market hypothesis from professors who never traded in their lives and all they did was spit out what the books said. reinforced why they were in academia 
Thanks for responding. That was unfortunate.
The theme of the thead is market utility (stated in a productive way) and getting EMH down cold in interactive settings (meaning classrooms) really flushes out how to pick out where money is to be made.
The heirarchy that builds on money, power and information is very key to making money. The information that is at the top is what drives things.
It seems to divided into what is there in the NOW and near past as compared to what is being telegraphed. The information of intention. All that math comes down to errors and their correction.
I do not forecast but I do front run the smart money and it's telegaphed forecasting and its marginal analysis of the related corrections.
The old sigma n of the f sub i's. Independently created forecast errors on the same side by the smart money always telegraph the turns by the rate of correcting.
It is like thinking of each day as a before, during and after settlement. Settlement comes raging onto the power desks (information hitting the powerful) who then have until close to "fix" stuff. And then at open the next day everything that leads to settlement is being input from the "outside" (this is the money on the lower level below power) until the moment of settlement again returns.
Did anyone learn the multiple choice test answer for settlement time? Well who cares. Knowing how EMH makes the wold turn is not lectures or multiple choice or papers being written.
It is learning how to make money by knowing how information telegraphs the opportunities.
Money flows and provides the settlemen data, power dictates the resolution of the settlement problems (and opportunities). Then they sleep and, then, it starts over everyday of the business year.
Front running the telegraph using the sentiment created by the power guys dictating resolutions is how to be where the money is to be made.
They are trying reversion to balance and I'm the 3 beta guy who is looking at where the max money velocity is on wrong one sided forecasting.
Infomation has two neighbors there at the top of the pile the technical and the sentiment. It comes down to pace and sentiment. Correcting wrong sidedness (sentiment) and jumping off the train (or reversing) when they try one more time to bring the train back to the station after overshooting it.
Trading is a thing a person does to really collect the penalties others are paying to fix what is out of whack.
When I walk in a room to say something. I ask one question usually. Then I say something short and sweet and then the games begin. The idea is to get the people paying to learn to get their money's worth to the extent, that after that, they are never the same again. That is done by answering thoughtful personal questions of the people who came to learn. People only learn by stepping out from where they are in their formal quest. They ask about what they see right in front of them. Making them get on the rocket is the mission.
I ask about their skills in calculus as my only question. If sets the level of discourse and gets the dicussion way the heck away from probabilities.
Does anyone know why the financial industry doesn't do settlement after hours? lol... Why did Greenspan always make his announcements after settlement? lol.....
It might be neat to do some educating on ET.
QED.
