[almostbusto]

[ QUOTE ]
Sigh. Efficent Markets and the theory of a "random walk" are not the same thing.

Also, the poster you criticized didn't assume it to be an anomoly. He assumed that sports betting was an efficient market (which it is not). From that, he assumed that last year was an anomoly.

Stop trying to sound smart.

[/ QUOTE ]i didn't say anything about the "theory of a random walk" i was just trying to explain the notion of an error term centered at zero.

the last two sentences i agree with. so i don't get what issue you have with me. simply put, if you assume there is no pattern then, any pattern that surfaces must be an anomaly right?