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How PSU Stocks Disprove The Efficient Market Hypothesis
24 Feb 2020, 12:51 PM IST
The Efficient Market Hypothesis posits that all stocks always reflect all available information in their prices, making it impossible to find or buy undervalued stocks. With stock selection being redundant, the one way to increase portfolio returns is to increase systemic risk – i.e. buying high-beta stocks. Many distinguished investors, including Warren Buffett have torn apart the very foundations of EMH. Called ‘Superinvestors’ by ...
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