Introduction

Gianluca Mattarocci

A chapter in Anomalies in the European REITs Market, 2014, pp 1-6 from Palgrave Macmillan

Abstract: Abstract In an efficient financial market, prices of securities adjust immediately to any new information and the purchase or sale of any security at the market price will always offer the same return, irrespective of the investment selection criteria. The efficient market hypothesis assumes that price behavior can be considered a random walk (Kendall, 1953) and, especially if transaction costs are relevant, investors can maximize their expected returns by randomly selecting a portfolio and adopting a buy and hold strategy (Jensen and Benington, 1970).

Keywords: Real Estate; Investment Strategy; Price Dynamic; Real Estate Market; Real Estate Investment Trust (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-39092-9_1

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DOI: 10.1057/9781137390929_1

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