Three economists won the 2013 Nobel Prize in Economics for showing that short

term share prices cannot be predicted:

There is no way to predict whether the price of stocks and bonds will go up or down

over the next few days or weeks," the Royal Swedish Academy of Sciences said in

awarding the 2013 Nobel Prize in Economic Science. It continued: "But it is quite

possible to foresee the broad course of the prices of these assets over longer time

periods, such as, the next three to five years.

Discuss the implication to financial statement analysis.