1. As a whole, in the long term, it is; 2

2. No. It is not at any single time point.

As a result, a strategy is to allocate some money to the sector(s) you really understand and thus might have an edge. And put the rest in index ETF/funds. If you have skills, then you could beat the market. Don't mistake luck for skills, though.

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• EM支持的结论就是TA，FA都是无用的，因为市场有绝对效率，指数股就应该是表现最好的 -六月骄阳- ♀ (0 bytes) () 10/02/2014 postreply 13:22:26