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Market Efficiency
The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted basis since market prices should only react to new information. Because the EMH is formulated in terms of risk adjustment, it only makes testable predictions when coupled with a particular model of risk. As a result, research in financial economics since at least the 1990s has focused on market anomalies, that is, deviations from specific models of risk. The idea that financial market returns are difficult to predict goes back to Bachelier, Mandelbrot, and Samuelson, but is closely associated with Eugene Fama, in part due to his influential 1970 review of the theoretical and empirical research. The EMH provides the basic logic for modern risk-based theories of asset prices, and frameworks such as consumption-based asset pricing and int ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ball Brown Martineau V2
A ball is a round object (usually spherical, but can sometimes be ovoid) with several uses. It is used in ball games, where the play of the game follows the state of the ball as it is hit, kicked or thrown by players. Balls can also be used for simpler activities, such as catch or juggling. Balls made from hard-wearing materials are used in engineering applications to provide very low friction bearings, known as ball bearings. Black-powder weapons use stone and metal balls as projectiles. Although many types of balls are today made from rubber, this form was unknown outside the Americas until after the voyages of Columbus. The Spanish were the first Europeans to see the bouncing rubber balls (although solid and not inflated) which were employed most notably in the Mesoamerican ballgame. Balls used in various sports in other parts of the world prior to Columbus were made from other materials such as animal bladders or skins, stuffed with various materials. As balls are one ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
