I read the excellent book by J. Siegal "Stocks for the Long Run" which
is outstanding in the mastery of statistics, as well as its buy and
hold philosophy which I believe in.
One stat, of interest to Aero, is that statistically the market sells
off during the morning, and comes back to close higher than
statistically warranted in the afternoon. This is particular
pronounced on Fridays (I had assumed that Fridays would close way
lower, due to day traders not wanting to hold their positions over the
weekend, but I was wrong). On Monday's the market usually opens
lower.
This might explain this "fraud of a market" some.
RL
