[FairfieldLife] Re: ME and the Stock Market:: Hagelin Needs an Sound Economic Theory of ME

[Richard J. Williams]

new wrote:
> If the ME (jh) posulation is valid -- that is immediate 
> surge in stocks when the "magic" number is hit, why 
> have teh markets significantly declined over the past 
> year, while the numbers in the domes are on average 
> quite a bit bigger than prior to that. 
>
Because, the wise investor will sell when stocks are high
and buy when stocks are low. If the ME could affect stocks,
it would not matter whether the price of stocks were high
or low, the ME would produce a winner either way, if you
were a wise investor. Apparently I'm the only respondent
on this list that owns any stocks, so I guess it's a moot
point.