When Maurice Kendall first examined stock price patterns in 1953, he found that
A)certain patterns tended to repeat within the business cycle.
B)there were no predictable patterns in stock prices.
C)stocks whose prices had increased consistently for one week tended to have a net decrease the following week.
D)stocks whose prices had increased consistently for one week tended to have a net increase the following week.

Question

Quizplus · Accepted Answer

Maurice Kendall's examination of stock price patterns in 1953 led him to conclude that stock prices moved in a manner that was essentially random, indicating that there were no predictable patterns in stock prices. This finding contributed to the development of the efficient market hypothesis.

When Maurice Kendall First Examined Stock Price Patterns in 1953