[ARTICLE] 6
[CIK] 0000856343
[NAME] INEFFICIENT MARKET FUND, INC.
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          DEC-31-1996
[PERIOD-END]                               DEC-31-1996
[INVESTMENTS-AT-COST]                       50,523,719
[INVESTMENTS-AT-VALUE]                      54,921,514
[RECEIVABLES]                                  787,880
[ASSETS-OTHER]                                     747
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                              55,710,141
[PAYABLE-FOR-SECURITIES]                     2,690,624
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                      108,374
[TOTAL-LIABILITIES]                          2,798,998
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                    47,858,700
[SHARES-COMMON-STOCK]                        4,300,950
[SHARES-COMMON-PRIOR]                        4,324,950
[ACCUMULATED-NII-CURRENT]                       20,277
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                        634,371
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                     4,397,795
[NET-ASSETS]                                52,911,143
[DIVIDEND-INCOME]                              678,012
[INTEREST-INCOME]                              231,170
[OTHER-INCOME]                                       0
[EXPENSES-NET]                                 673,439
[NET-INVESTMENT-INCOME]                        235,743
[REALIZED-GAINS-CURRENT]                     8,411,575
[APPREC-INCREASE-CURRENT]                      789,945
[NET-CHANGE-FROM-OPS]                        9,437,263
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                      193,543
[DISTRIBUTIONS-OF-GAINS]                     8,604,302
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                              0
[NUMBER-OF-SHARES-REDEEMED]                     24,000
[SHARES-REINVESTED]                                  0
[NET-CHANGE-IN-ASSETS]                         365,314
[ACCUMULATED-NII-PRIOR]                              0
[ACCUMULATED-GAINS-PRIOR]                      827,098
[OVERDISTRIB-NII-PRIOR]                       (21,923)
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                          416,104
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                                416,104
[AVERAGE-NET-ASSETS]                        55,466,775
[PER-SHARE-NAV-BEGIN]                            12.15
[PER-SHARE-NII]                                  00.05
[PER-SHARE-GAIN-APPREC]                          02.14
[PER-SHARE-DIVIDEND]                             00.04
[PER-SHARE-DISTRIBUTIONS]                        02.00
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              12.30
[EXPENSE-RATIO]                                  01.21
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>