It means you shouldn’t expect to make money trading stocks.
I think that’s putting it too strongly. Even if we accept EMH, buy and hold does work. And a regularly rebalanced portfolio does even better. You can significantly underperform the market and still “make money”.
It means you shouldn’t expect to make money trading stocks.
I think that’s putting it too strongly. Even if we accept EMH, buy and hold does work. And a regularly rebalanced portfolio does even better. You can significantly underperform the market and still “make money”.