BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY
Someone has said that the greatest idea that the human mind has ever come up with is…the theory of evolution. Men (and women) are supposedly descended from other animals. A bold and far-reaching conclusion, certainly.
I’m not sure what the dumbest idea that has ever originated in the human mind is (apart from the notion that Governor Palin would make a good Vice Presidential candidate), but I have a strong candidate: the efficient-market hypothesis. The notion that stocks are always properly valued. If JNJ is selling for $90, it should be selling for $90. The explanation is that all information about JNJ is out there, and everyone interprets the information the same exact way.
What utter nonsense.
