Wednesday, March 10, 2010

Haiku - Efficient Markets Hypothesis

I have a real disdain for the efficient markets hypothesis. I always have. And, unfortunately, I shared that opinion openly with my professors in graduate school. Unfortunate for me, because I had one professor who prayed at the altar of Eugene Fama. We didn't get along. I thought it was ironic that a classroom full of students who were going to stake their careers on the existence of market inefficiencies were being lectured by someone who believed that none existed. Well, I pick up free money (change) on the street.
Anyway, here is a haiku inspired by my EMH-touting prof:

I can't make money
so I doubt it's possible...
...efficient markets.