Such arguments should be left to professors of financial theory. Here's a balanced analysis: In the real world, markets cannot be absolutely efficient or who

Such arguments should be left to professors of financial theory. Here's a balanced analysis: In the real world, markets cannot be absolutely efficient or wholly inefficient. It might be reasonable to see markets as essentially a mixture of both, wherein daily decisions and events cannot always be reflected immediately into a market. If all participants were to believe that the market is efficient, no one would seek extraordinary profits, which is the force that keeps the wheels of the market turning. In the age of information technology (IT), however, markets all over the world are gaining greater efficiency. IT allows for a more effective, faster means to disseminate information, and electronic trading allows for prices to adjust more quickly to news entering the market. However, while the pace at which we receive information and make transactions quickens, IT also restricts the time it takes to verify the information used to make a trade. Thus, IT may inadvertently result in less efficiency if the quality of the information we use no longer allows us to make profit-generating decisions. Source: http://www.investopedia.com/articles/02/101502.asp http://www.investopedia.com/articles/02/101502.asp