One could imagine that even if the EMH false in its strong form, you have to wait years before seeing each new opportunity. This makes the market nearly unexploitable.
I’m not sure I understand your point. Investing in an index fund lets you double your money every 5 to 10 years. If every 10 years there’s an opportunity to quickly 5x your money or more (on top of the normal market growth), how does it make sense to call that “nearly unexploitable”?
Hmm, true, but if you took that argument to its logical extreme the existence of a single grand opportunity implies the market is exploitable. I mean technically, yeah, but when I talk about EMH I mostly mean that $20 bills don’t show up every week.
I’m not sure I understand your point. Investing in an index fund lets you double your money every 5 to 10 years. If every 10 years there’s an opportunity to quickly 5x your money or more (on top of the normal market growth), how does it make sense to call that “nearly unexploitable”?
Hmm, true, but if you took that argument to its logical extreme the existence of a single grand opportunity implies the market is exploitable. I mean technically, yeah, but when I talk about EMH I mostly mean that $20 bills don’t show up every week.