1. Every stock is a random walk.
2. Insider info for smaller companies is much more valuable then larger companies.
3. Speculative plays would make this even more boring, because then everyone makes wild guesses at the future value of a company they have never heard of.
Every statement you made was a complete misunderstanding of my statement. Including the sarcasm, I was being genuine in my praise.
Briefly, the random walk factor is less of an issue for speculative stocks because they either make it as a business, or don't. That's not a random walk. And I really don't understand why you're so miffed.
1. Every stock is a random walk. 2. Insider info for smaller companies is much more valuable then larger companies. 3. Speculative plays would make this even more boring, because then everyone makes wild guesses at the future value of a company they have never heard of.
Nice job in any case though.