Posts with keyword random-walk-down-wall-street→

In Part I, I discussed the two main and opposing theories of investing – efficient market theory (EMT) and fundamental analysis (FA). Here I talk about which one of these two can be thought as “correct”.
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(This post is a part of the series Basics of Finance and Investing.)

It did not surprise anyone when Warren Buffett, while recently hosting a group of business students from the University of Pennsylvania’s Wharton School (his alma mater) for a two-hour question-answer session, began by pointing out the folly of the efficient market theory (EMT). After all, his objection to EMT is as legendary as his support for fundamental analysis (FA), as the foundation for smart investing.
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I just finished reading A Mathematician Plays the Stock Market by John Allen Paulos, professor of mathematics at Temple University. Being a scientist with a theoretical bend, I was readily drawn towards the title of the book.
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  I am a scientist working in a US university, and I also study the dynamics of financial markets and their impact on our financial health. More...

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