Efficient Market 有效市场假设.该假说认为,投资者在买卖股票时会迅速有效地利用可能的信息.所有已知的影响一种股票价格的因素都已经反映在股票的价格中,因此根据这一理论,股票的技术分析是无效的.
An investment theory that states that it is impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information.According to the EMH,this means that stocks always trade at their fair value on stock exchanges,making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices.As such,it should be impossible to outperform the overall market through expert stock selection or market timing,and that the only way an investor can possibly obtain higher returns is by purchasing riskier investments.
