Importance of Efficiency Market Hypothesis
Today mainstream academic views hold position that capital markets operate with high degree of efficiency what is expressed in Efficient Market Hypothesis (EMH). The hypothesis was introduced by Louis Bachelier`s The Theory of Speculation (1900) but the work was ignored for a long period. The efficient market hypothesis emerged as a prominent theoretic position in the mid 1960s. Works of Paul Samuelson and Eugene Fama […]