NoNameProf

many of my colleagues believe in efficient market, I don’t, at least not when we are talking about time horizon of a few years (or less). the logic is quite simple, there is no such thing as abstract market, market is composed of people who buy and sell and the majority, allow me, do not even remotely care about whether the market is efficient (or value is justified), thus the many bubbles and, more importantly, opportunities to create wealth if someone cares to study the behavior of investors.

how about an industry that:

• it is likely to receive extensive media coverage
• it is one step ahead of what are hot now, but you have seen enough early adopters of the products from this industry and they like it
• it is clear to you that there will be a lot more people who will adopt the products
• …

I just bought a portable GPS, and it appears to me that this is an industry fits the profile, I will discuss more as I study this industry.