vikas

Temporarily Bullish on Microsoft

Dear Marcel,
It seems by efficient market theory we understand different things. What I understand from EMT is that since the market participants are very intelligent and rational, the prices of all the securities in market reflect all the known knowledge about the companies. If we follow this than all the securities are priced 'fairly' at all times. What I am contending is that this does happen most of the times but not all the times and one can indeed beat the market fairly consistently if he is willing to put efforts and resist the urge of action.