Yeah, I agree with the loose interpretation of EMH. The market has to be somewhat efficient in order to eventually realize a security's true value. Personally,

Yeah, I agree with the loose interpretation of EMH. The market has to be somewhat efficient in order to eventually realize a security's true value. Personally, my favorite stuff is where there are clear inefficiencies. Investing in orphan spinoffs is an example-- a company is spun off from its parent but is too small to be included in the S&P 500 or some key index, where its parent exists. Since it wont be part of the major indices, fund managers are forced to sell, creating the kind of inefficiency that an investor can profit from.