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Very nice summary @k00b, (and it's lovely to see you work through it in real time). Just a slight adjustment: the two hypotheses advanced in the EMH/joint-hypothesis problem are:
...because, of course, what you're saying when you're saying that something is under-/overvalued is that the market isn't efficient, since it is mispricing this one thing.
edit: then I kept listening and you re-stated it that way. THANKS!
It's a tricky thing! You explained it so well that the best way for me to explain it was exactly as you did.
YEEEEHAAAA, I'm back as a permanent member of the top-5 Stackers club. @Aardvark, a worthy opponent, is (very-very temporarily) defeated!
I've been on less and less for sure lol. Hopefully that changes in the near future.
I hope so too! We miss you!
(...but for my own narrow, prestige interests -- no, stay away!)
Lol! What if I'm on more, but then I zap you way more to keep you ahead of me?
works for me, MISTAH
SN now has a Newsletter ? That's great.
I demand a recount.