On Mon, Jul 29, 2019 at 6:20 PM Jose Mario Quintana <[email protected]> wrote: > I do not recall the notion "to add value" playing any role in any of the > forms (weak, semi-strong, or strong) of the EMH. (The expression of which > you are fond is presumably related to the article you cited; the article, > as Devon pointed out, is limiting itself to the weak form of the EMH).
Sure, but https://arxiv.org/pdf/1002.2284.pdf shows that even the weak EMH is mathematically implausible. (Implausible along much the same lines as "I have a bridge I'd like to sell you" is implausible.) So I've been trying to think about alternatives. So.. based on observations, I've formed some rough concepts. (Example observation: the Amish consistently sell stuff for prices well under what other people would sell similar things, and yet their lifestyle often looks massively better than that of people charging far more -- how does this work?) (Example (and not surprising - I'm mostly just rehashing what everyone knows) rough concept: money represents value, but value is depends on the individual at the point in time when the purchase decision is made. So that's a fleeting, transient and almost trivial sense of value. It's the stuff that we exchange it for that has the real value -- but that value is also highly variable. But: money's value depends heavily on regulation, on people's habits, and on what people produce in exchange for it.) And, I've latched onto phrases that seem to fit what I think I'm seeing. > Good luck in your search for whatever you are trying to find depending on > what "injecting value" and "to add value" means to you. Thank you, I guess. > That is your choice. However, although there might be some controversy > regarding *how* she achieved her trading record (I had no, and I have no, > comment on that), there is little controversy, if any, as to *what* she > archived. The media across the spectrum agree on the trading record > (return and time period), she said she did it, and the IRS got its tax > share based on that trading record. The suggestion in that article was that she negotiated a legal change for chicken facilities and profited from the changed market. (The article also suggested that this was shady.) But that article is all I have to go on, so I've far less information than you on this issue... Thanks, -- Raul ---------------------------------------------------------------------- For information about J forums see http://www.jsoftware.com/forums.htm
