Lecture1TheEfficientMarketHypothesisVersion:25/1/13Copyright?2010byTheMcGraw-HillCompanies,Inc.Allrightsreserved.McGraw-Hill/Irwin
LearningeWhatismarketefficiencyandwhyitisimportant?TheempiricalevidenceanditsimplicationsYourroleinmarketefficiency
RandomWalksandtheEfficientMarketHypothesis
Whyitisimportanttohaveefficientmarkets?MarketefficiencycentersontheideathatstockpricesfullyreflectinformationInvestorscantrustthatmarketpricesreflectfairvalueofassetsDonothavetoconductexpensiveresearchCorporations’goalisclear:ma
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