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June 29, 2009

'It isn't really there because, if it were, someone would have already picked it up' — Efficient market hypothesis on a $100 bill lying on the sidewalk

There's something wonderfully wacky about this oft-cited apothegm, containing as it does elements of Philip K. Dick, Bugs Bunny, Homer Simpson and Burton Malkiel.

As John Maynard Keynes remarked, "Markets can remain irrational longer than you can remain solvent."

June 29, 2009 at 02:01 PM | Permalink


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Comments

"What a Maroon" LOL,tooooo much!

Posted by: Joe Peach | Jun 29, 2009 4:32:39 PM

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