Julio Huato wrote:
But this is *not* what the EMH holds. I know that in these times of
philo-Keynesian euphoria, these factual inaccuracies may not matter
much, but it does make one doubtful of Skidelsky's intellectual
diligence.
It depends on what's meant by "correctly", doesn't it?
If "financial markets always price assets correctly" means that
"prices on traded assets, e.g., stocks, bonds, or property, already
reflect all known information", what's the problem?
Ted
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