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Efficient Market Theory: A Contradiction Of Terms
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Table of Contents
Table of Contents i
Abstract 2
Discussion 1-1
References A-1
Abstract
According to the Efficient Market Theory, it should be extremely difficult
for an investor to develop a "system" that consistently selects stocks that
exhibit higher than normal returns over a peri ....
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....se
organizations, neither of which are arguably efficient nor consistent.
Therefore, we have the basic contradiction of EMT: How can a theory based
on objective mechanical efficiency hold up when applied to subjective human
inefficiency?
As a case in point, America Online (AOL) offers a classic example of how
investors can be misled by a company t.... |
| Word count: 754 |
Page count: 3 |
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