Why traditional finance cannot explain anomalies

1. Traditional finance predicts the development of financial markets based on the market efficiency hypothesis and the rational man hypothesis.

2. With the rapid development of my country's economy, more and more market anomalies have appeared in the securities market that cannot be explained by traditional financial theory. In addition, my country's securities market is a typical "policy market". ”, resulting in the lack of empirical support for many financial models, which further highlights the inability of traditional finance to provide practical guidance in my country’s financial market.