While fund managers often say they add value for investors in smaller, lesser known markets because those markets are inefficient, The Wall Street Journal’s Jason Zweig says the data shows otherwise. “If it were true that money managers can more easily beat inefficient than efficient markets, then the differences would be easy to see,” Zweig [...]
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Tag Archives: efficient market
Behavior Finance Pioneer on Efficient Markets, Bubbles
August 12, 2009
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Richard Thaler, the researcher whose work has brought such key behavioral finance issues as myopic loss aversion to light, says recent events have shown markets are not efficient, but that they are still the best way to employ capital. “Counting the earlier bubble in Japanese real estate, we have now had three enormous price distortions [...]
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