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Classic Buffett - Fortune (1983) Looks at Members of the 'Buffett Group' and the Efficient Market Hypothesis

April 03, 2013 | About:

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tonyg34
Tonyg34 - 3 years ago
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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