It comes down to information having a cost. Noise is everywhere in the market. For instance the lawyer who spends the most money on advertising on the radio might not be the best guy to do your case.
Information also decays. Yesterday's best burger in town may not be today's.
EMH is basically wrong. Like the pre-relativity concept of absolute time and space, it sounds like it should be right under certain conditions, but unlike the physical analogy we live in the inefficient information world mostly.
Information also decays. Yesterday's best burger in town may not be today's.
EMH is basically wrong. Like the pre-relativity concept of absolute time and space, it sounds like it should be right under certain conditions, but unlike the physical analogy we live in the inefficient information world mostly.