Are markets efficient? The mere suggestion that markets are mostly efficient is sufficient to elicit an emotional rebuke: ‘Doesn’t 2008 disprove the efficient market hypothesis (EMH)?’ No it doesn’t, actually, and to say it does represents a common misunderstanding about the EMH. For years, I have defended the EMH: Defending the EMH Defending Rational Markets… Continue reading Evidence of Bubbles and other ‘Anomalies’ Does Not Disprove the Efficient Market Hypothesis