theory of efficient market

Generally speaking, the classical pricing theory and the theory of efficient market is in the core of mainstream finance and the argument of EMH or CAPM has never ceased.

总的来说，经典的资产定价理论和市场有效理论一直占据着主流金融学的中心部分，关于EMH、CAPM的争论也一刻都没有停止过。

We now know that the efficient market theory is for the birds, and that market failures can have devastating consequences for wide sectors of the public.

我们现在都已知道，有效市场理论只能用来骗骗白痴，市场失灵可能给广泛的公共部门造成毁灭性的后果。

So, as a supporter of the efficient markets theory, I thought for sure the market would fall down laughing.

因此，作为一个自由市场理论的支持者，我确信市场将可笑的下跌。