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Best Financial-Markets Sentence I Read Today

| 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.

29 April 2009 at 11:03 am Peter G. Klein 4 comments

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