7 Questions
¿Quién propuso la Hipótesis del Mercado Eficiente (HME)?
Eugene Fama
¿Qué sugiere la HME?
Que las proyecciones más precisas se hacen con toda la información disponible
¿Qué versión de la HME sugiere que los precios siempre son correctos y reflejan todos los factores fundamentales del mercado?
Fuerte
¿Qué evidencia apoya la HME?
Los precios de las acciones no siguen un patrón aleatorio
¿Qué propuso Robert J. Shiller?
El concepto de "exuberancia irracional" en los mercados
¿Qué aplica la finanza conductual?
La psicología y la sociología a las finanzas
¿Qué evidencia va en contra de la HME?
El efecto de enero
Study Notes
- Eugene Fama is a professor at the University of Chicago and Nobel Prize winner in Economics in 2013.
- He proposed the Efficient Market Hypothesis (EMH) which has three versions: weak, semi-strong, and strong.
- The EMH suggests that the best projections that can be made from all available information are the ones that form our expectations of the rate of return.
- The price of an asset in the financial market reflects all available information at any given moment.
- Inefficient assets with high returns attract investors, causing the price to rise and the exceptional return to disappear.
- The strong version of the EMH suggests that prices are always correct and reflect all the fundamental factors of the market.
- Evidence supports the EMH, such as analysts not outperforming the market and the random walk of stock prices.
- Evidence against the EMH includes the January effect and the overreaction of markets.
- Robert J. Shiller, a professor at Yale and Nobel Prize winner in Economics in 2013, proposed the concept of "exuberance irrational" in markets.
- Behavioral finance applies psychology and sociology to finance, including the impact of overconfidence and loss aversion.
Test your knowledge of the Efficient Market Hypothesis and Behavioral Finance with this quiz! Explore the three versions of the EMH, discover how the financial market reflects all available information, and learn about evidence that supports or refutes the EMH theory. Additionally, discover the concept of "exuberance irrational" in markets and how behavioral finance applies psychology and sociology to finance. This quiz is perfect for those interested in economics, finance, and the stock market.
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