Raul Miller <[email protected]> wrote: > But it does mean that you probably shouldn't bet in favor of the EMH - > or anything based on it - over the long term.
The beauty of the EMH is that if you accept it, it's not possible to bet in favor of it, because everyone's already extracted all of the possible value from that well-known fact. From Keynes: "... and the markets usually do anticipate recoveries. They've anticipated twelve of the last eight, I think. Of course, you need to keep in mind that the stock market can remain irrational a lot longer than you can remain solvent." > Raul -Wm ---------------------------------------------------------------------- For information about J forums see http://www.jsoftware.com/forums.htm
