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This is a free sample preview of the essay
Efficient Market Theory: A Contradiction Of Terms
Beginning of essay
Table of Contents
Table of Contents i
Abstract 2
Discussion 1-1
References A-1
Abstract
According to the Efficient Market Theory, it should be extremely difficult
for an investor to develop a "system" that consistently selects stocks t ....
Middle of essay
....ied to subjective human
inefficiency?
As a case in point, America Online (AOL) offers a classic example of how
investors can be misled by a company that uses the market system against
itself. AOL, up until early November of this year, used an accounting
system that effectively "cooked their books" and provided misleading
figures on the company's performance. Instead of accounting for its
promotion expenses and costs as a regular expense, as normal companies do,
AOL spread them over two years. T.... |
| Number of words: 754 |
Approximate pages: 3 |
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