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Distinguish among the three levels of market efficiency.

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In a 1-2-page assessment, explain the Efficient Market Hypothesis and its implications on financial decisions.
Introduction
Your assessment will focus on an interesting theoretical concept called the Efficient Markets Hypothesis (EMH). This concept tries to provide adequate answers to such questions as, “Are stocks in equilibrium?” and “Is it possible for an investor to consistently ‘beat the market’ without any inside information?”
Preparation
Read the following article:
Malkiel, B. G. (1989). Is the stock market efficient? Science, 243(4896), 1313–1318.

Malkiel is a seminal, foundational author in the field. Everything you read about the EMH will refer back to this fundamental explanation of the EMH theory. As you read this article, pay particular attention to the three levels of market efficiency to help you prepare for your assessment.

In addition, conduct research in the Capella library or the Internet on different perspectives on the EMH. You might try using search terms such as “efficient market hypothesis controversy” and “efficient market hypothesis perspectives” to obtain relevant results.
Instructions
Use your research to complete the following:
Explain the EMH.
Distinguish among the three levels of market efficiency.
Briefly explain the implications of the EMH on financial decisions by individual investors.
Use at least two research resources to support your ideas.

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