EMH is the most important base of the modern finance theory, but it was also give rise to a good deal of controversy when many people agree with it. Behavioral Finance is in the basis of psychology. It make the research about the behavior of the investor from "how to solve the problem' to "how to do in reality", which make the research about the investor behavior more close to the reality. The dispute between EMH and Behavioral. Finance make the Finance and the Economics face a big challenge. To know more about the dispute between EMH and Behavioral Finance, the paper will analyze it. The miniature content is: there is the EMH and the challenge of it face in the part 1; In the part 2, the article interpret the BF and the critisim of it face; It mainly introduce the illuminating remarks from the dispute between the BF and EMH In the part 3; The final part explains the utilization of the BF.
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