Is the Price Right? Two Nobel Laureates Debate How Markets Work
Chicago Booth Review Podcast
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Can You Beat the Market?
If you say that prices reflect all available information, it necessarily means that a price is right at any particular point in time. That's the statement of the hypothesis, but it's a model. It's not completely true, no models are completely true. The question is, for what purposes are they a good approximation? For us, I'm concerned, they're a good approximation from almost every purpose.
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