Replies to post #519 on Larry's Market Comments at Critical Points

[Ek]

wlod: i believe the efficient mkt theory applies to "longer term" pricing efficiency, and does not claim to be anywhere near being accurate in the short term, i.e. the efficient mkt theory indicated the mkt was overpriced back in 1997 (remember irrational exhuberence ?), but it took a number of years to correct. therein lies the aspect of crowd psychology and trends.

ek

[TREND1]

WLD
You have the wrong idea about efficient-market .IMHO.
They use the efficient-market as a base.

example:
(1)efficient-market says the market should do this or that.
(2)but "stat studies" shows it doing some thing else.