FYI: One of the great debates in finance is whether stock markets are efficient or inefficient. In 1998, Nobel Prize-winning economist Paul A. Samuelson argued that the efficient market hypothesis (EMH) should work better for individual stocks (meaning that the markets are micro-efficient) than for the stock market as a whole (in which case the markets would be macro-efficient).
Regards,
Ted
http://mutualfunds.com/expert-analysis/stock-market-efficiency-micro-or-macro-efficient/
