11 - 7/31/2011 1 Chapter 11 Chapter 11 The Efficient Market...

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Unformatted text preview: 7/31/2011 1 Chapter 11 Chapter 11 The Efficient Market Hypothesis Tuesday: Chapter 20 Options Markets: Introduction (Definitions & Strategies) Thursday: Chapter 21 Option Valuation (Binomial & Black Sholes) Maurice Kendall [1953] Random Walk vs. Submartingale (footnote, page 344) The Efficient Market Hypothesis The Efficient Market Hypothesis The Efficient Market Hypothesis the notion that stocks already reflect all available information 7/31/2011 2 Versions of the Efficient Market Hypothesis The Weak-Form The Efficient Market Hypothesis The Semi-Strong Form The Strong Form Market Trading Data All Publicly Available Information All Information Strong Semi-Strong Semi-Strong Weak Strong Semi-Strong Weak Versions of the Efficient Market Hypothesis The Efficient Market Hypothesis The Weak-Form Market Trading Data Technical Analysis look for predictable patterns in stock prices....
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11 - 7/31/2011 1 Chapter 11 Chapter 11 The Efficient Market...

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