3 ms·
See Bob Schiller's work (for which he received the econ Nobel prize in 2013). The “weak version of EMH” has nothing to do with markets being “efficient”, it's
by littlestymaar 10mo ago
See Bob Schiller's work (for which he received the econ Nobel prize in 2013).
The “weak version of EMH” has nothing to do with markets being “efficient”, it's a property of random markets. Assimilating the two just Fama's motte-and-bailey fallacy.
- eru 10mo agoWhen you say 'random' you probably mean that market prices are a Martingale? See https://en.wikipedia.org/wiki/Martingale_(probability_theory) https://en.wikipedia.org/wiki/Martingale_(probability_theory... That's very, very related to being efficient. > Assimilating the two just Fama's motte-and-bailey fallacy. No, not at all.
- littlestymaar 10mo ago> That's very, very related to being efficient. “No, not at all”.