Which, when you read it, I'm sure you can come up with 10 counterexamples (obvious counterexample: ponzi schemes). I guess you could call me a disbeliever.
Value is what the market is willing to pay for it--for anything, not just companies. The EMH says that that value is always discounted perfectly on a risk-adjusted basis of all current knowledge about the company. Therefore if a company exceeds its risk adjusted expected performance in the future, it wouldn't be possible to predict beforehand.
Which, when you read it, I'm sure you can come up with 10 counterexamples (obvious counterexample: ponzi schemes). I guess you could call me a disbeliever.