AGM UBS Wrongapalooza, page-78

I'm not sure who wrote this dumb article, but efficient market hypothesis (this author calls it theory) is taught in first year finance. Its taught that there are three types of markets, strong, semi-strong and weak.

It's generally noted that there really isnt a strong efficient market out there due to the market distortions that you listed. Definitely not the ASX.

So to sum up, EMH is a first year topic, very primitive and in this article completely misunderstood and misused. Absolute rubbish.