Flok

andyrocks Wrote:
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> Penny's right here. Weak is the lowest form of
> efficiency, Semi-strong then incorporates weak,
> and strong incorporates weak and semi strong.


Thats fine but if semi strong is violated, is it essential that weak will be violated too? I don't think so. Here using P/E (fundamental analysis) you can get consistent abnormal returns so it violated semi strong. It has to violate strong too then right, because strong means abnormal returns cannot be earned using any analysis or data