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QUESTION
explain why it is that in an efficient market, investments have an expected NPV of zero the textbook said something about prices for buying and
explain why it is that in an efficient market, investments have an expected NPV of zero
the textbook said something about prices for buying and selling being fair and the required return is normally the only thing earned and this impacts the NPV..but I am still a little confused on how it all works. Could someone explain this please?
