Markets are Efficient if and Only if P = NP

Post by adas » Thu, Aug 18, 2011, 2:30 PM UTC

Post by adas » Thu, Aug 18, 2011, 2:31 PM UTC

Post by adas » Thu, Aug 18, 2011, 2:31 PM UTC

mquander wrote: post #7

gfodor wrote: post #3

Earlier quoted context omitted.

If it's true it uproots a lot of conventional wisdom about trading and the ability to time the market.

No, it doesn't. Relevant conclusions about markets in a theoretical sense all depend on (from the link) "current prices...[reflecting]...information available in past prices," which isn't even approximately true in the real world; current prices are driven by irrational actors with incomplete information.