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Salemicus comments on Open Thread, Feb. 2 - Feb 8, 2015 - Less Wrong Discussion
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What's LessWrong's collective mind's opinion on efficient markets hypothesis? From Facebook feed I vaguely recall Eliezer being its supporter, it also appeared in some of the Sequences. On the other hand, there is a post published here called A guide to rational investing, which states that "the EMH is now the noble lie of the economics profession".
I have a well-read layman's understanding of both the hypothesis and various arguments for and agains it and would like to know what this community's opinion is.
As Lumifer says, the truth value of the EMH depends on the exact formulation, and there are several variations even within the typical 'strong/semi-strong/weak' divisions.
But let me put it this way - I don't take people who argue against the weak-form EMH seriously, unless they own a yacht.