Readthe article “The efficient market hypothesis and its critics” by Burton Malkiel (2003). Answerthefollowingquestions: 1.

Readthe article “The efficient market hypothesis and its critics” by Burton Malkiel (2003).

Answerthefollowingquestions:

1. Whatismeantbyanefficientsecuritymarket?Therearevariousviewsthatareputforwardin

thepaperwhichpointtoacommonideaofmarketefficiency.Elaborateontheseviews.

2. Explainhowistheefficientmarkethypothesisassociatedwiththeideaofa”randomwalk”.

3. Identifyanddiscussthepatternsofpossiblepredictabilityimpliedbystudiesofthebehaviorof

paststockprices.

4. Whataresomeofthevaluationparameters(bothcrosssectionalandtimeseries)whichexplain

thepredictablepatternsofstockreturns?

5. Explainthearguments(withsupportingexamples)putforwardbyopponentswhoviewefficient

marketsasanuntenablehypothesis.

Thank you.

 
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