Even if the semi-strong version of the efficient market hypothesis is true, it might be possible to earn extraordinary returns from private information not available to other investors.

Question

Quizplus · Accepted Answer

The semi-strong form of the efficient market hypothesis asserts that all publicly available information is already reflected in stock prices, but it does not account for private, non-public information, which could be used to earn extraordinary returns.

Even If the Semi-Strong Version of the Efficient Market Hypothesis