1. Why does the EMH apply the mathematical Random Walk Theory?

2. Explain why does the Random Walk Theory asserts that investors cannot extract useful information about movements of individual equities.

3. Does the Random Walk Theory provide a meaningful foundation for a puzzling observable event: If one considers the mean of stock prices over a long period of time, he/she will notice that there exists the inversion of the mean over time. As time goes on, prices average out to their long-term mean.