The efficient markets hypothesis says that asset prices embody all publicly available information.

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The Efficient Markets Hypothesis (EMH) asserts that asset prices in financial markets reflect all publicly available information. According to EMH, it is impossible to consistently achieve returns that outperform the market because all relevant information is already incorporated into stock prices. This hypothesis has been the subject of much debate among economists and financial analysts.

The Efficient Markets Hypothesis Says That Asset Prices Embody All