My latest Street.com column, "A Not-So-Efficient-Market Hypothesis" is up at RM.
It expands upon many of the ideas from earlier comments, Compare and Contrast.
UPDATE: December 2, 2004 5:43am
Interesting article in the New York Times about surprising price patterns and inefficiencies in the Fine Art market:
Economists Have Advice for Buyers as the Art Market Heats Up
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.