Your understanding of the claims of EMH are flawed. On the other hand, the true claim is not easily tested. The best test exists in the form of looking at how easy it is to turn a consistent profit from transacting in open and liquid financial markets. Answer: not easy
Not easy isn't equal to not possible. Math isn't easy for most people, that doesn't disprove math. If the claims of EHM cannot be tested, then EMH is obviously nonsense.
