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- Title
INVESTING WITH BEN GRAHAM: AN EX ANTE TEST OF THE EFFICIENT MARKETS HYPOTHESIS.
- Authors
Oppenheimer, Henry R.; Schlarbaum, Gary G.
- Abstract
The article reports on the efficient markets hypothesis and capital market prices while providing commentary on Benjamin Graham's "The Intelligent Investor." Graham provides a set of rules for the optimal selection of stock in the book and those rules are used in researching the efficient market hypothesis. The efficient market hypothesis is where prices reflect the available information and change with new information in an unbiased manner. There isn't a trading strategy known that uses public information for decision making and results in abnormal returns when the market is efficient.
- Subjects
CAPITAL market; STOCKS (Finance); INTELLIGENT Investor, The (Book : Graham); GRAHAM, Benjamin, 1894-1976; PRICES; RATE of return
- Publication
Journal of Financial & Quantitative Analysis, 1981, Vol 16, Issue 3, p341
- ISSN
0022-1090
- Publication type
Article
- DOI
10.2307/2330242