Re: efficient markets ...

[Chris MACRAE]

As a mathematician, I think the whole notion of efficient markets is very non-transparent, bordering on meaningless or do I mean contextless?   The first question that would need to be answered to prove me wrong is to explain what time-span (transactional or relationship) governs your model. You cannot have both, because they ultimately spin all the results of economic modelling very differently   chris macrae www.valuetrue.com Transparency Standards Community www.normanmacrae.com Economics ----- Original Message ----- From: Koushik Sekhar To: [EMAIL PROTECTED] Sent: 03 August 2002 7:37 AM Subject: efficient markets ... If the markets are efficient, does it mean that you can buy at any time, using any methods and you will still make the same returns as somebody else who is smarter  ?   Koushik