James Montier: EMH RIP

Alice laughed: “There’s no use trying,” she said; “one can’t believe impossible things.”

“I daresay you haven’t had much practice,” said the Queen.  “When I was younger, I always did it for half an hour a day.  Why, sometimes I’ve believed as many as six impossible things before breakfast.”

– Lewis Carroll, Alice In Wonderland

Good piece by James Montier of Societe Generale on the ridiculous Efficient Market Hypothesis: “Six Impossible Things Before Breakfast”.

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