Burton Malkiel, professor of economics at Princeton University, is the author of A Random Walk Down Wall Street and is currently preparing the tenth edition of the book. In a recent Financial Times interview, Mr. Malkiel insists that the data ...

While the EMT is often ridiculed as being obviously false, academics have attempted to adjust the theory over the years and it is now very rare to encounter anyone who believes in the strong-form version of the theory. Most academics ...