Message Font: Serif | Sans-Serif
No. of Recommendations: 0
In other words, in an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.

Not to prolong the debate, but I think this is a difference in definitions. That Fama and Buffett both use the same term doesn't mean they mean the same thing. Buffett's what-the-company-is-really-worth isn't an EMT kind of concept.

I agree with you about unreasonable stock option plans, though.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.