but you don't know _when_ the flame-war or long obscure discussion or predictions of
instant doom will happen. In the SM, it's the timing that's crucial.
jd
-----Original Message-----
From: PEN-L list on behalf of Doug Henwood
Sent: Wed 6/23/2004 10:50 AM
To: [EMAIL PROTECTED]
Cc:
Subject: Re: [PEN-L] EMH
Devine, James wrote:
> >The anomalies that have been identified over the years - that low P/E
>>stocks 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
