Posted: September 14th, 2017

Stock Market efficiency & Company valuation

Stock Market efficiency & Company valuation

Assessment Task
Stock Market Efficiency & Company valuation:
“An ‘efficient’ market is defined as a market where there are large numbers of rational profit
maximisers actively competing, with each trying to predict future market values of individual
securities, and where important current information is almost freely available to all
participants.
In an efficient market, competition among the many intelligent participants leads to a situation
where, at any point in time, actual prices of individual securities already reflect the effects of
information based both on events that have already occurred and on events which, as of now,
the market expects to take place in the future. In other words, in an efficient market at any
point in time the actual price of a security will be a good estimate of its intrinsic value.”
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