The Efficient Market Hypothesis & the Critics

Thanks to my Friend Miguel Barbosa i have access to this interesting article.
Its an interesting paper written by Burton G Malkeil on The Efficient Market Hypothesis & the Critics. There are 2 schools of thoughts, one which beleived that markets are Efficient and second school of thoughts beleive that markets are not at all efficient. Its an interesting paper which talks about that the markets are more efficient and less predictable.
He is also the auther of "Random Walk Down Wall Street". In his books he emphasis that the markets are efficients on long run, but extremely unpridictable on the short run.

The Efficient Market Hypothesis & the Critics.