The momentum effect raises a further important issue. If markets are rational, as the efficient-market hypothesis assumed, then they will allocate capital to its most productive USES.

动量效应提出了一个更深层次的重要问题，如果市场是理性的，如有效市场假说假设的那样，那么市场将把资金分配给收益最大的用途。

youdao

At its best, this system represents an efficient andintelligent capital allocation machine, a market ruled by precision andmathematics rather than emotion and fallible judgment.

最理想的情况，计算机系统是了一个高效、智能的资源分配机器，一个被精确化和定量的市场，而不是受到感性和易犯错的判断所影响的市场。

youdao

The contents contain three main parts: efficient market hypothesis, capital equilibrium theory and modern corporate financial theory.

内容包含三个主要部分：有效率市场假说，资本均衡理论和现代公司金融理论。

youdao

And in any case, it is hotly debated whether any individual, no matter how qualified, can consistently outperform his competitors in a relatively efficient capital market.

ECONOMIST: Mutual funds

Short-termism can result in a range of corporate and financial games that may enrich management at the expense of market integrity and efficient investor capital allocation.

FORBES: Leadership

Profits evidence efficient stewardship of capital in ways which satisfy the market and generate wealth.

FORBES: Why The Recession Recovery Remains Anemic