.@MoneyIllusion must distinguish informational efficiency & Pareto efficiency. Markets informationally efficient. Not IMO Pareto efficient
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EMH makes no claim of Pareto efficiency, though you are right to remind us.
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Oh sure. The only reason most people can't beat a market is efficiency. It couldn't possibly be behavioral ineptitude.
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Invedtors pay up front sales loads like these for index funds because markets are efficient? Rubbish. http://mobile.reuters.com/article/idUSBREA0C0N920140113 …
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Hahaha trust me this argument will never end. People sure what is meant by efficient. It's like negotiating with Jesuits.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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