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by zaroth
2493 days ago
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Efficient market theory in no way claims that all companies must always act rationally. And even more so, you can attempt to make a rational decision, and still be wrong. It’s also often said about the market, that it can remain irrational longer than you can remain solvent. |
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The saying that the market can remain irrational longer than you can remain solvent directly contradicts the efficient market hypothesis.