Best Financial-Markets Sentence I Read Today
29 April 2009 at 11:03 am Peter G. Klein 4 comments
| Peter Klein |
From Gene Fama:
George Soros claims (in his op-ed in the Wall Street Journal) that the Efficient Market Hypothesis is invalid, because prices in financial markets “always provide a biased view of the future, and that distortions of prices in financial markets may affect the underlying reality.” Thoughts?
EFF: All the evidence I know says that market predictions are unbiased. It’s understandable, however, that hedge fund managers are immune to this evidence since it’s a threat to their existence.
Entry filed under: - Klein -. Tags: Financial Markets.
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Organizations and Markets 
1.
Barbar | 29 April 2009 at 5:15 pm
So George Soros doesn’t think the EMH is right because he’s scared he’ll lose his job if it catches on more?
I mean, if Soros is so smart, why isn’t he rich?
2.
Warren Miller | 30 April 2009 at 12:35 am
Having scoured several acronym dictionaries and come up empty, I give up: What’s EFF mean?
3.
Peter Klein | 30 April 2009 at 12:46 am
Fama’s initials: Eugene F. Fama. The lines above are excerpted from a longer dialog in Q-and-A format.
4.
Marcus Linder | 30 April 2009 at 10:33 am
It’s understandable, however, that some professors are immune to other evidence since it’s a threat to their reputation and the reliability of their most famous scientific claims. ;-)