The Papers that Changed Investing: The Behavior of Stock Market Prices

Walk into any Wall Street brokerage in 1965, and you'll see the same thing: analysts hunched over charts, tracing patterns with their fingers. They're searching for head-and-shoulders formations, Elliott Waves, Fibonacci sequences. Every major firm has entire departments devoted to this. The belief was widespread: study the charts long enough, and the market may reveal its secrets.

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DISCLOSURES:

This video is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Investing involves risk, including the potential loss of principal. Past performance is not indicative of future results.

The discussion of Eugene Fama and the Efficient Market Hypothesis is intended to illustrate academic concepts in finance and does not imply any endorsement of Index Fund Advisors, Inc. or its services.

Index Fund Advisors, Inc. is a -registered investment adviser. Additional information is available by reviewing IFA's ADV Brochure at https://www.adviserinfo.sec.gov/ or visiting www.ifa.com.