> This is mainstream economic theory today. To be fair, EMH is mainstream econometrics from the 70s... I don't think there exist more than a handful of academ

> This is mainstream economic theory today. To be fair, EMH is mainstream econometrics from the 70s... I don't think there exist more than a handful of academics in 2020 that would defend a strong form of EMH. The whole current quantitative finance industry is based on the factor model theory, and behavioral finance. Factors have been proven to S3account for consistent abnormal returns for decades, on multiple asset classes. Stronger than factor form of inefficiencies, such as PEAD, have also been common knowledge for decades. Behavioral finance, for which there has been Nobel prizes as well - post 70s :) - would even go as far as telling you that there is most likely a self realization effect of factors in the market. Eg. "Quality exists because people trade quality because they believe it exists"