A not Unminor problem

H Curtis Leung hl74379 at tfldw32.sbi.com
Wed Apr 12 14:10:59 PDT 2000

Matt writes:

>> One major problem for those of us on the left side of the
>> political spectrum goes back to the paradox of efficient markets: no
>> one has come up with a better way to have financial markets that
>> are more-or-less efficient in the long term, than to provide for
>> short term trading that can sniff out and damp small inefficiencies.

And Doug replied:

> Why should we care about efficient financial markets?

To which I have to ask: if we did, I thought a major theme of Doug's book is that financial markets aren't even efficient. Have I gotten something wrong? -- Curtiss, subscribed anew from yet another address (which has his name spelled wrong, goddamnit)

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