Money on the ground: As the blog post will explain, believing in EMH means there's never any free money lying on the ground. CC image courtesy of Greg Dunlop
The 'Efficient Market Hypothesis' (EMH) is like a religion. Believing in it has a dramatic influence on the way you actually invest. Plenty of financial advisors believe in EMH, which makes this subject very relevant for us. In this series, we discuss what EMH is, why it's wrong and why that matters.
In part 5, we discussed the third and final reason why EMH is wrong: namely, that ...