C/F/212. Theory of stock market efficiency and a brief discussion on Ray Ball's paper

This paper comments and lists the major points from Ray Ball's paper "The theory of stock market efficiency: accomplishments and limitations". We take a closer look at how the anomalies that exist across the efficient market hypothesis can either be worked out mathematically or simply taken as they stand in theory. A suggestion of Behavioural Finance is talked out as an alternative to certain discrepancies but the main question that still remains unanswered is this Ï is it possible to have a theory without any flaw?