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> I find it quite funny that the random walkers get anyone to follow their
> dogma.
It's really not so surprising. I suspect that the originators of the
random walk theory are academics who tried their hand at trading and
failed. Naturally if they, with their superior intellect, couldn't
succeed, we are all poor deluded fools to think we can do it. So, they
constructed an elaborate scientific justification for their own
inadequacy and regained their ivory-tower sense of superiority. Only
now, when other academics are successfully poking holes in the random
walk theory, are they finally starting to accept what traders have known
all along.
--
Dennis
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