Market (In)Efficiency and beating the market
Behavioral inefficiencies are likely the most enduring because human nature has not changed much over time and is unlikely to change much in the future.
EMH
Want better returns? Forget risk. Focus on fear
In effect they acknowledge that going down the Capital Asset Pricing Model rabbit hole with Alice did not get them to Wonderland. Their solution is to go further down the same rabbit hole.
Cliff Asness, Wall Street sharks and market inefficiency
Markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes and daily tempts the occupants.
Market value – a misleading contradiction in terms
What could be more advantageous in an intellectual contest – whether it be bridge, chess, or stock selection – than to have opponents who have been taught that thinking is a waste of energy?
How the stock market reacts to news
With so many people waiting for others to make the first move, it’s amazing that anything gets bought.
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