According to Efficient Markets Hypothesis, investors of closed-end funds can't earn excess risk-adjusted returns which accord with CAPM.

在有效市场的前提下，封闭式基金的收益应满足资本资产定价模型(CAPM)的假设，无法获得超额收益。

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Efficient Markets Hypothesis claims that stock price mirrors all market information accessible publicly, of which neither practitioners nor surveillants are fully convinced.

有效市场假说认为股票价格能够反映所有公开信息，但该观点始终难以使监管者和实务者完全信服。

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Compare the efficient markets hypothesis and fractals markets hypothesis, indeed they are the different methods from the point of linear and nonlinear in securities markets.

本文主要是比较了有效市场假设与分形市场假设，也即比较了证券市场的线性与非线性的观点。有效市场假设对应于正态分布，分形市场假设对应于“肥尾”分布。

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Indeed, there are theories out there like the efficient markets hypothesis which say that we cannot in fact predict them.

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None of these objections challenges the use of the efficient markets hypothesis.

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The Efficient Markets Hypothesis (EMH) says that markets are efficient at processing information about what prices should be in a market.

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