Читать книгу Equity Markets, Valuation, and Analysis - H. Kent Baker - Страница 47

Strong form efficiency occurs if stock prices currently reflect all known information, including all public and private information. The additional information included at this level is private or inside information. If a market is strong form efficient, investors cannot expect to consistently make abnormally large returns based on any information, including private information. Another issue that exists with using private or inside information is that using inside information violates securities trading rules in the United States and other countries.