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by realize 5004 days ago
The ability of some traders to make consistent significant profits should be an "existence proof" of the inefficiency of markets. The EMH is just wrong.
2 comments

The question is not 'can traders make a consistent profit' but rather 'can anyone make a profit using just publicly accessible historical data alone' this is the essence of EMH.

Most professional money managers make their gains by actively interviewing companies in a form a stylized intentional financial journalism if you will.

Now you just need to point to some traders who are able to make "consistent significant profits".
And not just "some" but a proportion of profitable traders greater than what we would expect due to chance - i.e. the existence of some lottery winners does not prove that playing the lottery is in general profitable.