Inefficiencies

Kees Koedijk and Alfred Slager
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Kees Koedijk: Tilburg University
Alfred Slager: Tilburg University

Chapter 5 in Investment Beliefs, 2011, pp 49-57 from Palgrave Macmillan

Abstract: General opinion has it that theory is boring for practitioners and exciting for academics. However, now and then theory galvanizes practitioners into hot debates. Warren Buffet, known for his outspoken opinions, declared that “I’d be a bum on the street with a tin cup if the markets were always efficient”.1 That is how Warren Buffet views the Efficient Market Hypothesis (EMH). Midway through 2009, Jeremy Grantham, a respected market strategist with institutional asset management company GMO, was also railing against the efficient market hypothesis,2 and people paid attention.

Keywords: Pension Fund; Hedge Fund; Excess Return; Earning Forecast; Asset Manager (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30757-5_5

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DOI: 10.1057/9780230307575_5

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