In efficient markets, investments have an expected return equal to zero.

Name: In efficient markets, investments have an expected return equal to zero.
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In efficient markets, investments are expected to offer a return that compensates for the risk taken, not an expected return of zero. The efficient market hypothesis suggests that asset prices fully reflect all available information, meaning that securities are fairly priced to offer a return that is commensurate with their level of risk.

In Efficient Markets, Investments Have an Expected Return Equal to Zero