Doug: > The EM partisan would respond, not incorrectly, that the > whole problem is a lack of a market for these securities.
Apparently, neighter Doug nor Michael follow the recent finance literature closely. Even God, that is, Eugene Fama, had thrown the towel in, although he did not say so explicitly. What the heck does "there is a lack of a market for these securities" mean? Is this efficient market thing an abstract which exists only in imagination? Or, are we trying to reshape the world in the image of an abstract? Sabri ____________________________________________________________________________________ Be a better Globetrotter. Get better travel answers from someone who knows. Yahoo! Answers - Check it out. http://answers.yahoo.com/dir/?link=list&sid=396545469
