>According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or s

>According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices... ...on average. Which is what makes "beating" the market, over enough time, impossible. But we know there are pricing discrepancies and information asymmetries in finite periods of time because we see them every day.