Question: The efficient market hypothesis (EMH) has been highly influential in financial economics since the early 1970s. However, the EMH is also being continuously challenged. There

The efficient market hypothesis (EMH) has been highly influential in financial economics since the early 1970s. However, the EMH is also being continuously challenged. There are financial economists who believe that stock prices are at least partially predictable. Some of them even claim that predictable patterns in financial markets enable investors to earn excess risk adjusted rates of return. Do you agree or disagree with these arguments? Why?

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