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’Preparing for a US debt disaster
A deal required before an Asian markets drop on Monday. Bankers summoned to a joint meeting with officials in New York. Congress paralysed. Despite our continuing optimism and markets’ relative insouciance,
In defence of EMH
Marco Annunziata, chief Economist at UniCredit Group, has fired a couple of rounds at critics of efficient markets hypothesis, including Soc Gen’s GMO’s James Montier and the FT’s Gillian Tett.
He says simplistic attempts to throw EMH out of the window will not help improve our understanding of financial markets or strengthen institutions to limit the risk of future crisis.
EMH – The Dead Parrot of Finance
Europe’s top strategist has weighed into the debate about efficient markets.
Soc Gen’s James Montier wants Efficient Markets Hypothesis (EMH) and all its offshoots consigned to the dustbin of history before they inflict any more damage on investors.