Efficient Market Hypothesis Quotes & Sayings

Value investing is predicated on the efficient market hypothesis being wrong. — Seth Klarman

Be greedy when others are fearful and fearful when others are greedy.' Easier said than done for the vast majority of stock traders ... On every stock trade there is someone who wants to sell and someone who wants to buy, at least at a particular price ... the person who is selling thinks that she is getting out just in time while the person buying thinks that he is about to make good money.
... The truth is that the market doesn't really reflect some magical perfect valuation of a stock under the efficient market hypothesis. It reflects the mass consensus of how actual individual investors value the stock. It is the sum total of everyone's hopes and fears ... — M.E. Thomas

There is no other proposition in economics that has more solid empirical evidence supporting it than the Efficient Market Hypothesis ... In the literature of finance, accounting, and the economics of uncertainty, the EMH is accepted as a fact of life. — Michael Jensen

I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them. — George Soros

The efficient market hypothesis (EMH) explains this phenomenon: current market prices reflect the total knowledge and expectations of all investors, and it is highly unlikely that one investor can know more than the market does collectively. For — Larry E. Swedroe

The truth is that the market doesn't really reflect some magical perfect valuation of a stock under the efficient market hypothesis. It reflects the mass consensus of how actual individual investors value the stock. It is the sum total of everyone's hopes and fears about what a company is capable of doing. — M.E. Thomas

What the efficient market hypothesis doesn't account for is that people are not always rational. Just ask any divorce lawyer. — Coreen T. Sol

The sad truth is that it is precisely those who disagree most with the hypothesis of efficient market pricing of stocks, those who pooh-pooh beta analysis and all that, who are least able to understand the analysis needed to test that hypothesis. — Paul Samuelson