And there is one problem: "belief". Some people can walk through Xerox PARC and bet their company on 3-4 things they see. Others can own Xerox PARC and bet their company on 3-4 largely different things.
In EMH there is cooked in some notion of overall largely rational beliefs, and yet the shares trade hands from someone selling to someone buying - both of which feel they got a good deal worth making money from.
In EMH there is cooked in some notion of overall largely rational beliefs, and yet the shares trade hands from someone selling to someone buying - both of which feel they got a good deal worth making money from.