Devine, James wrote:
>The anomalies that have been identified over the years - that low P/Estocks outperform high P/E ones, for example - imply that stocks are, at least to some degree, predictable.
the SM is predictable in the sense that pen-l is predictable.
My god, if the stock market were that predictable, I'd have set up my own hedge fund *years* ago.
Doug
