presentation - Legal & General
presentation - Legal & General presentation - Legal & General
PASSIVE INVESTING – GOING UNDER THE BONNET (HARD DRIVE)! 22EFFICIENT MARKET HYPOTHESIS.STRONG FORMAll information in the market, whether public or private, is accounted for ina stock price. Not even insider information is of value.SEMI-STRONG FORMAll public information is calculated into a current stock’s share price.Neither fundamental nor technical analysis is of value.WEAK FORMAll past prices and data of a stock are reflected in today’s price. Therefore,technical analysis cannot be used to predict and beat a market.
PASSIVE INVESTING – GOING UNDER THE BONNET (HARD DRIVE)! 23EFFICIENT MARKET HYPOTHESIS.STRONGthe market's pricing of anitem is the best estimateof its valueWEAKprices have no memory andyesterday is unrelated totomorrow
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PASSIVE INVESTING – GOING UNDER THE BONNET (HARD DRIVE)! 22EFFICIENT MARKET HYPOTHESIS.STRONG FORMAll information in the market, whether public or private, is accounted for ina stock price. Not even insider information is of value.SEMI-STRONG FORMAll public information is calculated into a current stock’s share price.Neither fundamental nor technical analysis is of value.WEAK FORMAll past prices and data of a stock are reflected in today’s price. Therefore,technical analysis cannot be used to predict and beat a market.
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