When investors are not capable of making superior investment decisions on a continual basis based on past prices, public or private information, the market is said to be:

Question

Quizplus · Accepted Answer

When investors are not capable of making superior investment decisions based on any kind of information, the market is said to be strong-form efficient. This means that all public and private information, including insider information, is already reflected in the current market prices. Therefore, it is impossible to consistently outperform the market through any type of analysis.

When Investors Are Not Capable of Making Superior Investment Decisions