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100 sats \ 1 reply \ @denlillaapan OP 4 May \ parent \ on: MONEY CLASS OF THE DAY: Market Efficiency: You Come Into MYYYYY HOUSE?! econ
yep, this is a good/relevant/level-3 type objection.
Happy to accept that it distorts info/makes it noisier to understand. But it's well-established in the literature that it only takes a small portion of active traders/investors to structurally shift the market price to EMH eq.
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24 sats \ 0 replies \ @grayruby 4 May
I think that's fair but there must be some point as passive continues to grow that it completely overwhelms the ability of active traders to reprice the market.
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