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Classic Buffett - Fortune (1983) Looks at Members of the 'Buffett Group' and the Efficient Market Hypothesis
Posted by: CanadianValue (IP Logged)
Date: April 3, 2013 10:03AM




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Re Classic Buffett - Fortune 1983 Looks at Members of the Buffett Group and the Efficient Market Hypothesis
Posted by: tonyg34 (IP Logged)
Date: April 3, 2013 01:02PM

as a theoretical aside...
Graham's idea of markets as a voting machine vs a weighing machine, and the entire premise of value investing in general requires that markets be efficient. In other words, if markets must revert to the mean (how value investors make money - buying cheap and selling at value) then markets must be efficient, because they self-correct.



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