Accepted Quote by Michael Jensen

But whatever the consensus on the EMH, I know of no serious academic, professional money manager, trained security analyst, or intelligent individual investor who…

— John C. Bogle

Value investing is predicated on the efficient market hypothesis being wrong.

— Seth Klarman

The efficient market theory is one of the better models in the sense that it can be taken as true for every purpose I…

— Eugene Fama

Many of us economists who believe in efficiency do so because we view markets as amazingly successful devices for reflecting new information rapidly and,…

— Burton Malkiel

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain…

— Jeremy Grantham

Taking this view, it is possible to see financial markets as a laboratory for testing hypotheses, albeit not strictly scientific ones. The truth is,…

— George Soros

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

— George Soros

I don't entirely reject the idea of efficient markets. It needs updating.

— Andrew Lo

I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered…

— George Soros

“The adjective “efficient” in “efficient markets” refers to how investors use information. In an efficient market, every titbit of new information is processed correctly…

— Alan S. Blinder

I think the economy is the point of greatest uncertainty for most people.

— Don Iveson

In economic theory the conclusions are sometimes less interesting than the route by which they are reached.

— Piero Sraffa