Lonely planet top 10 countries on SATYA J. GABRIEL MOUNT HOLYOKE COLLEGE market efficiency THE NOTION THAT THE prices of financial assets reflect all the available information on those assets is referred to as MARKET efficiency. In an informationally efficient market, the PRICE of an asset exactly reflects the value of the asset based on available information. Therefore, any change in price will only occur following the arrival of new information. Since such new information is not predictable, movements in stock prices cannot be predicted on the basis of current information. Thus, except for the normal increase necessary to induce investors to bear the risk inherent in holding stock, stock prices in an efficient market will follow a random walk. A random walk is a process in which stock returns in successive periods are independent and identically distributed. Lonely planet top 10 countries 2016.
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Lonely planet top 10 countries Holiday Map Q.