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dc.contributor.authorTabenske, Tyler
dc.date.accessioned2014-01-22T20:37:45Z
dc.date.available2014-01-22T20:37:45Z
dc.date.issued2013
dc.identifier.urihttp://hdl.handle.net/10920/29096
dc.descriptioniv, 45 p.en_US
dc.description.abstractThe Efficient Market Hypothesis (EMH) has been a topic of intrigue to· investors since gaining traction in the early 1970s. One assumption of the strong-form EMH is the idea of perfect information- that prices of assets fully reflect all public and private information. Beating the market should be a 50/50 shot. Examining the returns of Berkshire Hathaway are telling: beating the market 39 times out of the past 48 years certainly doesn't seem to be by chance at all .. Over this long period of time, the EMH fails to explain the returns of investment firms like BRKA's. This fails to take into account many factors though: namely technology. The advent of the internet completely changed financial markets, as it allowed for quick and easy access to information that once took hours of research. The result: a massive difference in BRKA's returns pre and post 1995 :-the year the internet was released to the public. Statistical analysis in R reveals the significance of this difference from the EMH. Also, theoretical markets of 2001, the year internet adoption in the U.S. hit 51% and 1981, two decades earlier, are analyzed to· look for further trends to reinforce findings.en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.relation.ispartofseriesSenior Individualized Projects. Economics and Business.;
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleAmerican Financial Market Efficiency Pre and Post Internet Adoptionen_US
dc.typeThesisen_US
KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email dspace@kzoo.edu to request access to this thesis.


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  • Economics and Business Senior Individualized Projects [1120]
    This collection includes Senior Individualized Projects (SIP's) completed in the Economics and Business Department. Abstracts are generally available to the public, but PDF files are available only to current Kalamazoo College students, faculty, and staff.

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