Quote by Robert Haugen

Although efficient markets people still go around saying there is a mountain of evidence supporting their hypothesis, the truth of the matter is that it's a very old mountain that's now eroding rapidly into the sea.

Although efficient markets people still go around saying the

Summary

This quote criticizes the belief in efficient markets by emphasizing its outdated nature. While proponents continue to claim substantial evidence for the efficiency of markets, the quote metaphorically suggests that this evidence is akin to an ancient mountain that is gradually disappearing. In other words, the quote implies that the evidence for efficient markets is becoming less credible and losing relevance over time, underlining a decline in confidence in the theory.

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By Robert Haugen

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