What Can Replace Efficient Markets Theory?

The most interesting thing about the efficient markets hypothesis is not whether it is valid or not – clearly it is not – but how it has managed to remain so influential for so long.
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http://globaleconomicnews.blogspot.com/2009/08/what-can-replace-efficient-markets.html
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Tags: CFA Institute, Professor Andrew Lo, Massachusetts Institute of Technology, MIT, “physics envy”, behavioural finance, Global Economic News, Darwinian process, “survival of the richest”, “Market efficiency”, financial markets,


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