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Efficient Market Theory
Beginning of essay
: A Contradiction of Terms Daniel W. L. Wung Baker College Center for Graduate Studies
Table of Contents Table of Contents i Abstract 2 Discussion
References A-1
Abstract According to the Efficient Market Theory, it should be extremely difficult for an investor to develop a “system” that consisten ....
Middle of essay ....ency hold up when applied 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.... |
Number of words: 1263 |
Approximate pages: 5 |
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