Statistically it's not incorrect. While you should be skeptical of strong forms of the EMH, all evidence points to weak forms of the EMH being true. A corrola

Statistically it's not incorrect. While you should be skeptical of strong forms of the EMH, all evidence points to weak forms of the EMH being true. A corrolary that is good to keep in mind is "markets are more efficient than you're smart" -- prevents you from starting doomed financial enterprises