Does Wisdom of Crowds apply to earnings estimates, price targets, value estimates and stock prices?
The behavioral tail can wag the statistical dog
inefficient markets
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.
The Winner’s Curse and Homo Investorus
The world does not operate in accordance with conventional economic or finance theory posited on the notion that people are both rational and selfish.
Drawdowns, inefficient markets and a portfolio managed by God
The concept of this research is to capture results associated with a long-term investor (we assume a 5-year holding period) that has incredible stock-picking skill
Active investing in today’s investment landscape
Most trading that is going on right now has nothing to do with value
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.
Rise of passive investing good or bad for active investors?
The stock market and individual stocks still seem capable of swinging from euphoria to fear, from fear to euphoria, from bull to bear and from bear to bull, as they have over stock market history.
How to buy stocks at bargain prices
Declining free cash flow may be a sign the company is investing for the future! Or it may be a very bad sign. Increasing free cash flow may be a good sign or a bad sign. It’s all in the interpretation of the financials.
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?
What to make of recent market run up?
Rising prices are a narcotic that affect the reasoning power up and down the line
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