[TekMol]

As I understand it, his argument is that there might be information available that needs time to interpret. And that the time the market took to interpret the available data is not sufficient to gain the maximum insight possible. So that somebody with more computing power then the market could beat the market.

I don't see that as an argument against the EMH. I think it is inherent in the EMH that the market has more computing power then any individual.

I would say that it is the core of the EMH. That more people make better predictions. Because they have more computing power.

I always found it strange that the EMH is often defined as the market price including all available data. As if the data can simply be added without interpretation.