Efficient Market Theory

Are market really efficient? This question is constantly debated in academia and industry. Ignorance has lead some to the extreme ends however I think the vast majority understand the truth lies between the extremes. If markets were 100% efficient there would be no need to trade. The issue is trading keeps markets efficient and no one would trade if they weren’t being paid. This indicates that there must be opportunities to make money which in turn make markets efficient. As new information becomes available it is included in the new stock price. The gap between the old and new price provides compensation for updating the price by buying and selling. The buying and selling (changes in demand) move prices until there is no longer a profit to be made. WARNING: Making money in markets costs a lot of money! Even the smartest person can’t waltz out and make millions without data, servers, and time. To really make good profits you also need employees. Yes you can make a great living by tra