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Houston-area media reporting fatalities from school shooting

Houston-area media citing unnamed law enforcement officials are reporting that there are fatalities following a shooting at a local high school Friday morning. Television station KHOU and the Houston Chronicle are citing unnamed federal, county and police officials following the shooting at Santa Fe High School, which went on lockdown around 8 a.m. The Associated Press has not been able to confirm the reports. School officials said law enforcement officers were working to secure the building “and initiate all emergency management protocols to release and move students to another location.” Students from the high school were being transported …read more […]

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Bill Gates says Trump speaks in the 3rd person in a leaked video from a Gates Foundation meeting

Leaked footage from a Gates Foundation question-and-answer session shows Bill Gates slamming President Donald Trump. The billionaire Microsoft founder said Trump referred to himself in the third person in private. What do billionaires and industry leaders say about President Donald Trump behind closed doors? …read more […]

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China denies it has offered a $200 bln package to slash U.S. trade gap

China denied on Friday that it had offered a package to slash the U.S. trade deficit by up to $200 billion, hours after it dropped an anti-dumping probe into U.S. sorghum imports in a conciliatory gesture as top negotiators meet in Washington. U.S. officials had said on Thursday that China was proposing trade concessions and increased purchases of American goods aimed at cutting the U.S. trade deficit with China by up to $200 billion a year. …read more […]

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North American pipeline operators restructure after tax change

Pipeline operators Enbridge Inc, Williams Cos and Cheniere Energy Inc said on Thursday they would restructure after a U.S. rule change removed a key tax benefit for publicly traded partnerships controlled by those companies. Williams said it would buy all common units of its master limited partnership (MLP) Williams Partners in a deal valued at $10.5 billion. Enbridge said it would buy its independent units including Spectra Energy Partners and Enbridge Energy Partners as well as its pipeline assets and bring then under a single listed entity for …read more […]

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Why the Efficient Market Hypothesis Is Bunk

“I believe there is no other proposition in economics which has more solid empirical evidence supporting it than the efficient market hypothesis.”

– Michael Jensen, Harvard Business School professor emeritus of business administration
You may have heard of the efficient market hypothesis (EMH).

Put simply, it states that stock prices reflect all information in the markets.

As a result, a stock will always trade at its fair value.

That, in turn, makes it is impossible to “beat the market” consistently.

So you should give up on picking stocks and invest all your money in index funds, right?

By matching the market, you will ensure that you end …read more […]