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Title: Random but not rational
Review: The concept of an efficient market is totally at odds with the way major fund managers work.Very often the price of a stock is totally unrelated to its underlying value. Look at the theories of Graham (Amazon has him) and Warren Buffett. Buffett has followed Graham's advice for 50 years and made 25% PER YEAR returns by finding cases where Mr. Market is completely nuts, let alone inefficient! Think of the market as efficient, except sometimes completely NUTS.The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)Security Analysis
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