Interview With Andrew Lo: Masters in Business (Audio)
Masters in Business
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Is the EMH Theory the Best One?
The public accusation helped validate the research, which is a good thing. A number of academics went back to their home institutions and replicated our results. And in fact, that illustrates the kind of adaptive nature of academics. It's very competitive. You come up with innovations and if you survive over time, then your theory ultimately takes over.
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