…EMH is nonsense. It is true IIRC that, aside from this debate, graphs with months on the X axis just aren’t used to study the effect of policy shifts on…

…the even more aggressive route by suggesting that REH (rational expectations hypothesis), EMH (efficient markets hypothesis), RAM (representative agent models), and DSGE (dynamic stochastic general equilibrium models) be buried beneath…

…assets with real if undeterminable value. (The notion that something has exactly the value of its current price in the market is just a byproduct of EMH magical thinking). More:…

…is pretty much yesterday, the people who claimed that everything could be explained by EMH and that we would just end up where we would have been proven dead wrong….

…still named linksys, Apple Network ######, or similar. It may not be true, but it is the way to bet. ***As cactus noted, the EMH is of dubious value if…

…for either of the proposed reforms, since directly or indirectly, this gives credit-constrained households exposure to equity. Note however, that almost any violation of the EMH leads to interventionist policy…

Chris Blattman highlights the latest version of Janet Currie and Reed Walker’s research on a positive externality of the shift to E-Z Pass (PDF link). From the Abstract: We find…

Among the people who have been updating The Theory of Finance for the ObamaNation is Gregg Sommerville, whose job depends to some significant extent on people not believing the following…

…natural gas, other than the odd city bus or garbage truck in random municipalities? The answer is a simple but unpleasant one. See, we in the US would label the…

…considered almost risk-free because if the borrowers default, Fannie or Freddie will pay off the loans (assuming Fannie and Freddie remain solvent). Non-conforming loans go into pools known as private-label…