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EFB201 Financial Markets Q&A Chapter 3
EFB201 - Financial Markets
5 Pages • Topic Notes • Year: Pre-2021
1. Discuss broadly the evidence regarding the efficient markets hypothesis. Broadly the evidence suggests markets are reasonably efficient at the weak and semi-strong form level, but not strong form efficient. However, the evidence has been collected across a range of countries (e.g. Australia, United States and Japan etc.), a range of markets (e.g. equity, fixed interest, derivative, foreign exchange and gambling etc.) and a range of time periods (e.g. from early 1900’s to the present) and the results are not always consistent. Active fund managers and hedge fund managers would tend to maintain a belief that markets are inefficient, whilst index fund managers and many finance academics would take the view that markets are fairly efficient.
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