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Efficient Market Theory: A Contradiction Of Terms
Beginning of paper
Table of Contents
Table of Contents i
Abstract 2
Discussion 1-1
References A-1
Abstract
According to the Efficient Market Theory, it should be extremely difficult
for an investor to develop a "system" that consistently selects stocks that
exhibit higher than normal returns o .... Middle of paper
.... sales to take
advantage of "insider" information, sales of stocks and bonds will not
depress prices, and companies cannot "cook the books" to artificially
manipulate stock and bond prices. However, information technology and
market dynamics are based upon the workings of ordinary people and diverse
organizations, neither of which are arguably efficient nor consistent.
Therefore, we have the basic contradiction of EMT: How can a theory based
on ....
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Number of words: 754
Number of pages: 3 (approx. 250 words per double-spaced page)
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