Abstract: Many academics in finance, as well as professional index fund managers, believe the U.S. financial markets are efficient, meaning that whenever new information is released, it's quickly reflected in stock prices. In a highly efficient system, the theory goes, asset managers cannot outperform the general market over long periods. Stocks will rise and fall as new information becomes available, but investors get the news at the same time and no one has an edge.
Publication Year: 2000
Publication Date: 2000-01-01
Language: en
Type: article
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