Re: Evaluating Managed Funds
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It seems difficult for me to understand how the happenings of 1998-2002 can be explained by EMT. Or, for that matter, how stocks can go up and down so wildly, day to day...This isn't, to me, how an "efficient" market would behave.
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As of today, of the 99 US-listed cos. that have a market cap greater than $50B, 32 of them have a 52wkhi at least 40% more than their 52wklo. Did cos. like Motorola, United Health, and Dell really change more than 50% in value in the last 12 months? Or did Tyco, Verizon, and Boeing change more than 40%? Not likely, but their stocks sure did.
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