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What do physicists think of the Efficient Market hypothesis?
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[QUOTE="bobob, post: 6419927, member: 648972"] I don't have a link but there are a series of articles written by Bruce Knuteson, "Celebrating Three Decades of Worldwide Stock Manipulation." Bruce Knuteson spent 6 years as a high energy physicist, was an assistant prof at MIT (PhD from Cal Berkeley) and spent 6 years working as quant in the financial industry. I think you'll find his opinion of an efficient market to be pretty poor. He describes in detail (with real mathematics and data, the marketing strategies used to manipulate the market and what kind of capital it takes to play at that level). Google should make these easy to find. I found one of the articles in arxiv in the mathematical finance section. I don't think the fact that the markets are manipulated will surprise anyone, but the schemes he describes are rather sophisticated somewhat counter intuitive intially (and illegal, but ignored by regulators). BTW, one of the best physics and math departments in the world resides at [B]Renaissance Technologies[/B], which is an investment firm. [/QUOTE]
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What do physicists think of the Efficient Market hypothesis?
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