Watch Errol Morris’s Tune Out the Noise Free Online: A Documentary About the Financial Revolution That Transformed Investing

Watch Errol Morris’s Tune Out the Noise Free Online: A Documentary About the Financial Revolution That Transformed Investing You can’t beat the market. That, at least, is the advice we all encounter early on when first we try our hand at investing. Homespun though it may sound, the idea has academic roots: the Efficient Market Hypothesis, as the economists call it, holds that the prices in any financial market already reflect all available information relevant to what’s being traded within them. In the case of the stock market, for example, everything known — or indeed, knowable — about the future prospects of a particular company is already incorporated into its stock price, or might as well be. If the EMH is true, then it must also be true that nobody can beat the market, no matter how deep their experience or developed their instinct for picking stocks. Nobel Laureate economist Eugene Fama, who’s done more than anyone alive to refine the EFM and keep it in circulation, appea

Added 2 Apr 2026