NEHMT: Null-Efficient-Hypothesis-Markets-Testing. If an effect is real, markets will value companies that exploit it for generating profit.
Only if you assume no risk aversion, and zero risk of ruin. We're talking about rational investors, not idealized models.
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even then, the implication would seem to be Kelly-like bets, not proportional bets.
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You're probably right on that one. I guess I'm not a optimal Bayesian. But then, who is?https://twitter.com/Noahpinion/status/733543776258424832 …
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