India's contribution to the efficient market hypothesis

The Indian logic is old, more complex and well established and has stood the test of time. It can explain complex things significantly better than Aristotelian logic

"The efficient market hypothesis (EMH) or theory states that share prices reflect all information. The EMH hypothesises that stocks trade at their fair market value on exchanges. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted basis since market prices should only react to new information."
 
There are two sides – broadly, the academics and the active investors who vehemently disagree on this hypothesis. The former have indeed proved that most of the market participants can't beat the stock market and hence go on to say that market is efficient. Businessmen and