Biotech Values

[Rocky3]

OT

I believe markets are generally efficient, but with detailed knowledge of a sector a smart person can outperform over a period of several years.

That is my stated view, and why I am here. But I acknowlege that it is a little like the children in Lake Wobegon - we are ALL above average (or at least think that we are). And the research that I have seen says that we are wrong - those that are paid to invest do worse than the market, and I doubt that smart amateurs do better than professionals.

All that said, I get way too much enjoyment out of trying my best to beat the market. But in those cases where I have a duty to invest for others, I am very comfortable doing it with passive (indexed) investments.

JMO.

BTW - I agree big-time re technical analysis. I am not going to compete with James Simons, et al, although I refuse to pay his fees (they were 5 and 44 last time I looked).