The Efficient Market Hypothesis (EMH) is a financial theory that suggests that asset prices reflect all available information at any given time. According to EMH, it is impossible to consistently achieve higher returns than the overall market because any new information is quickly incorporated into stock prices. This means that stocks always trade at their fair value, making it difficult for investors to find undervalued or overvalued assets. EMH is often categorized into three forms: weak, semi-strong, and strong. The weak form asserts that past price movements do not predict future prices, while the semi-strong form states that all publicly available information is reflected in stock prices. The strong form includes all information, both public and private, suggesting that even insider information cannot provide an advantage in the market.