Security analysis

Please don't forget to add the referances list and in text citation Many different types of individuals conduct security analysis. How would you characterise these different analysts? The theory of the efficient markets hypothesis (EMH) would indicate that markets are efficient and that stock prices should accurately reflect value. However, recent research in the area of behavioural finance indicates that there may be limitations to EMH as the result of several factors. What are these factors and what are the implications of limits to EMH on securities markets?