Replies to post #178 on 3M Company (MMM)

[bar1080]

"The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

I prefer Burton Makiel's view that the market is USUALLY pretty darn efficient, over the wisdom in some IHUB signature. Wall Street wants the unwashed masses to think they can pick winners and time the market. Wall Street hates index funds which don't pay for yachts. >98% of IHUBers can't beat the market. The real Oracle of Omaha would agree. (I mod the two BRK boards, btw)

What's I find hilarious are all the traders buying and selling 3M, usually at the very worst time and with the worst possible tax outcome. I've owned 3M and blue chips like it for years.

http://en.wikipedia.org/wiki/Burton_Malkiel