Posts filed under “Apprenticed Investor”
Here’s my variation on the classic EMH joke:
Two Economics professors are walking back to their offices after giving a lecture on the Random Walk of stock prices.
"Look!" says one of the academics, "There’s $1.7 billion dollars!"
"Nonsense!" says the other. "The market efficiency hypothesis states that security prices fully reflect all available information. That money is impossible."
"Schmucks!" laughs Jim Simmons of Renaissance Technologies. He picks up the money and goes back to his office.
You may now return to your previously scheduled belief system.