Ann: Roc-1 well update, page-40

Some people here and on HC more generally often like to point to market efficiency as the justification for their case, completely ignoring what assets the company actually holds.

Market efficiency was demonstrated with SRX when we had a bunch of people who screamed and  panicked back in March and sold it down from $40 to $18 when SRX announced its preliminary results. When people were discussing whether the outcome was a 'failure or not', many people then, like others in here - pointed to the fall in the share price as their evidence. For those that listened to that tripe and didn't bother to look deeper into what admittedly what was a badly worded statement, SRX is now back to $40 again with a dividend along the way as well. Those that 'followed the market' as some are suggesting here would now have to pay more than double that to get back what they originally had in the first place.

I'm not saying this is necessarily the same case, but what I am saying is that it is stupid to just 'follow the market' and not do any work or even give any consideration to the company's assets and potential.

If your strategy is just to 'follow the market', then why the heck bother with the hassle of stock picking when you can just buy into an index fund? Stock picking just to 'follow the market', instead of investing in an index fund is just dumb.

The market is pretty efficient... at transferring the wealth of those that are too impatient and lazy to do their own work and just follow the crowds to others who are willing to do the work.