The Johannesburg Stock Exchange as an efficient market

Original Articles

The Johannesburg Stock Exchange as an efficient market

Published in: Investment Analysts Journal
Volume 6 , issue 9 , 1977 , pages: 21–27
DOI: 10.1080/10293523.1977.11082595

Abstract

This note reviews the evidence for and against the assumption that The Johannesburg Stock Exchange is an efficient market. After considering the results of statistical tests and trading rule simulations on share price sequences, and analysing the performance of mutual fund portfolios, it concludes that the evidence supports the assumption. This conclusion has important practical implications for portfolio managers.

Get new issue alerts for Investment Analysts Journal