Quote:
Originally Posted by rubicon
Eugene Fama economist was awarded a Nobel in economics based on the efficient market theory. Essentially in the long run stocks are priced efficiently but not in the short run. However no one knows when the stock market is efficiently priced. There has never been proven that active fund managers ever beat the market. They are average before costs.
I prefer the cost matters hypothesis because it ensures low cost and appreciable returns.
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Anyone beating the market averages are not advertising it.