[extropy-chat] You're Fired

[gts]

On Tue, 17 Oct 2006 18:32:24 -0400, BillK <pharos at gmail.com> wrote:

> What part of "Market movements are unpredictable, meaningless and
> random" don't you understand? I can't predict stock prices. Nobody
> can. That's the point.

The random walk hypothesis is not so well supported as you seem to think.  
How for example do you explain the fact that market indices have risen on  
the order of 8% or 10% each year on average for roughly the past 100  
years? The random walk hypothesis predicts a 0% percent average return.

US financial markets may be and probably are non-random but extremely or  
perfectly efficient.

-gts