Skidelsky wrote: >> Greenspan must have believed something like >> the "efficient-market hypothesis," which holds >> that financial markets always price assets >> correctly.
Julio Huato wrote: > But this is *not* what the EMH holds. right. Instead of describing perfect foresight about the gyrations of asset prices, the EMH is only right _on average_ (under the assumption of Gaussian randomness, etc.) with given information about underlying asset values. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
