Strong form market efficiency believes that all relevant information is fully accounted for in stock prices, regardless of whether the information is publicly available or not.
This means that the value of the stock mirrors the true value of each company with full efficiency. This implies that there is no advantage to be gained through research as all information is already priced in.
Strong market efficiency suggests that even illegal insider information isn’t useful in terms of gaining an advantage in the market because that information is already accounted for.
Those that believe in strong form market efficiency suggest that the best approach when investing in stock is to simply buy and hold stocks to get the best return.
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