Final answer:
The random walk hypothesis, which suggests stock prices have unpredictable short-term movements with a long-term upward trend, indicates that the best estimate of tomorrow's price is not necessarily today's price.
Step-by-step explanation:
The statement 'The random walk hypothesis maintains that the best estimate of tomorrow's price is today's price' is false. The random walk hypothesis implies that stock prices are just as likely to rise as to fall on any given day due to the unpredictable nature of future news that alters profit expectations. Despite this randomness, over time, there tends to be an overall upward trend in stock prices, indicating that while the short-term movements are unpredictable, the long-term direction often shows growth.