Re:Markets are efficient if and only if P = NP
by realize on Saturday September 29, 2012 @08:31AM
(#4589367)
The ability of some traders to make consistent significant profits should be an "existence proof" of the inefficiency of markets. The EMH is just wrong.
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Re:Markets are efficient if and only if P = NP
by evolve2k on Saturday September 29, 2012 @08:48AM
(#4589391)
The question is not 'can traders make a consistent profit' but rather 'can anyone make a profit using just publicly accessible historical data alone' this is the essence of EMH.
Most professional money managers make their gains by actively interviewing companies in a form a stylized intentional financial journalism if you will.
Re:Markets are efficient if and only if P = NP
by tatsuke95 on Saturday September 29, 2012 @08:54AM
(#4589404)
Now you just need to point to some traders who are able to make "consistent significant profits".
Re:Markets are efficient if and only if P = NP
by rafcavallaro on Saturday September 29, 2012 @10:21AM
(#4589628)
And not just "some" but a proportion of profitable traders greater than what we would expect due to chance - i.e. the existence of some lottery winners does not prove that playing the lottery is in general profitable.