Efficient markets, rotten apples – Part 2

In part 2, John Addis looks at the lessons we can learn from the media, brokers and industry researchers getting the world’s biggest company wrong.

In part 1, we examined how professional analysts had got Apple wrong three times in five years, making the argument that if markets were genuinely efficient that shouldn’t happen. For the market to get a stock as widely known and analysed as Apple wrong, efficient markets must, we argued, be a myth.


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