Read the relevant article and critically access the statement.
1. The day I realized that markets are efficient was the day I chose a passive investment strategy. And how could it be otherwise with all those analysts scrutinizing major companies every second of the day? All that I need to do is utilize the collective wisdom embedded in stock prices.
Relevant article: Grossman, S. and J. Stiglitz On the Impossibility of Informationally Efficient Markets, AER, 1980.
focus on the article i give to you. do you agree with the statement? what is your argument? does the market efficiency reflect investment strategy? make some valuable points
do not copy from other papers please
thanks
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