Adcorp: the right staff?
The counter has recovered to 500c after being smashed to 200c by Covid, and if economic growth starts picking up, could more be in store?
10 October 2024 - 05:00
According to the efficient market hypothesis (EMH), all available information is already reflected in share prices. Thus investors shouldn’t bother with stock picking — because alpha is too arbitrary or requires excessive risk — and embrace a nicely diversified passive index instead.
As a rebuttal of EMH and a good case study of market behaviour, there’s Adcorp Holdings, a JSE-listed small-cap staffing business...
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