"The Crisis has shaken the very foundations of modern-day financial theory, which rested on the hypothesis that our financial markets were basically efficient. Financial writers and economists alike were ready to write obituaries for the "efficient market hypothesis" 2. Discuss what is meant by the 'efficient market hypothesis' (EMH). On what basis have some authors argued that the recent financial crisis serves to undermine the EMH? Do you believe these critiques are based on a valid understanding of the EMH and are they supported by the available evidence? In your opinion is the EMH still a valid hypothesis following the crisis