Ben Felix | Is The Market Efficient? @BenFelixCSI | Uploaded July 2019 | Updated October 2024, 2 hours ago.
The implications of market efficiency for investors are sweeping. If asset prices always fully reflect available information, there are only two ways to profit: by taking a risk that has been priced into the market, which can be done cheaply with an index fund. If the market is not efficient, then it should be possible to profit by consistently selecting undervalued stocks, and timing the market.
Referenced in this video:
the Efficient Market Hypothesis (EMH) - rationalreminder.ca/sensible-investing
The Performance of Mutual Funds - onlinelibrary.wiley.com/doi/full/10.1111/j.1540-6261.1968.tb00815.x
Do Low-Volatility/Low-Beta ETFs Make Sense? - pwlcapital.com/do-low-volatility-low-beta-etfs-make-sense
On Persistence in Mutual Fund Performance - jstor.org/stable/2329556?seq=1#page_scan_tab_contents
Luck versus Skill in the Cross-Section of Mutual Fund Returns. - onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.2010.01598.x
The Efficient Market Hypothesis and Its Critics - https://eml.berkeley.edu/~craine/EconH195/Fall_14/webpage/Malkiel_Efficient%20Mkts.pdf
Interview with Eugene Fama - newyorker.com/news/john-cassidy/interview-with-eugene-fama
The Superinvestors Of Graham-and-Doddsville - https://www8.gsb.columbia.edu/articles/columbia-business/superinvestors
Betting Against Beta - aqr.com/Insights/Research/Journal-Article/Betting-Against-Beta
Catch up on our latest investing advice, insights and white papers here.
pwlcapital.com/teams/passmore-felix/?utm_source=youtube&utm_medium=copy&utm_campaign=ben2019&utm_content=marketefficient
------------------
Follow me on
- Twitter: twitter.com/benjaminwfelix
- LinkedIn: linkedin.com/in/benjaminwfelix
PWL Capital Blog Post: pwlcapital.com/are-markets-more-or-less-efficient
Follow PWL Capital on:
- Twitter: twitter.com/PWLCapital
- Facebook: facebook.com/PWLCapital
- LinkedIn: linkedin.com/company/pwl-capital
You can find the Rational Reminder podcast that I co-host with Cameron Passmore on
Apple Podcasts: itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2
Google Podcasts: google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz
Spotify Podcasts: open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA
#investing #strategies #marketefficiency
The implications of market efficiency for investors are sweeping. If asset prices always fully reflect available information, there are only two ways to profit: by taking a risk that has been priced into the market, which can be done cheaply with an index fund. If the market is not efficient, then it should be possible to profit by consistently selecting undervalued stocks, and timing the market.
Referenced in this video:
the Efficient Market Hypothesis (EMH) - rationalreminder.ca/sensible-investing
The Performance of Mutual Funds - onlinelibrary.wiley.com/doi/full/10.1111/j.1540-6261.1968.tb00815.x
Do Low-Volatility/Low-Beta ETFs Make Sense? - pwlcapital.com/do-low-volatility-low-beta-etfs-make-sense
On Persistence in Mutual Fund Performance - jstor.org/stable/2329556?seq=1#page_scan_tab_contents
Luck versus Skill in the Cross-Section of Mutual Fund Returns. - onlinelibrary.wiley.com/doi/abs/10.1111/j.1540-6261.2010.01598.x
The Efficient Market Hypothesis and Its Critics - https://eml.berkeley.edu/~craine/EconH195/Fall_14/webpage/Malkiel_Efficient%20Mkts.pdf
Interview with Eugene Fama - newyorker.com/news/john-cassidy/interview-with-eugene-fama
The Superinvestors Of Graham-and-Doddsville - https://www8.gsb.columbia.edu/articles/columbia-business/superinvestors
Betting Against Beta - aqr.com/Insights/Research/Journal-Article/Betting-Against-Beta
Catch up on our latest investing advice, insights and white papers here.
pwlcapital.com/teams/passmore-felix/?utm_source=youtube&utm_medium=copy&utm_campaign=ben2019&utm_content=marketefficient
------------------
Follow me on
- Twitter: twitter.com/benjaminwfelix
- LinkedIn: linkedin.com/in/benjaminwfelix
PWL Capital Blog Post: pwlcapital.com/are-markets-more-or-less-efficient
Follow PWL Capital on:
- Twitter: twitter.com/PWLCapital
- Facebook: facebook.com/PWLCapital
- LinkedIn: linkedin.com/company/pwl-capital
You can find the Rational Reminder podcast that I co-host with Cameron Passmore on
Apple Podcasts: itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2
Google Podcasts: google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz
Spotify Podcasts: open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA
#investing #strategies #marketefficiency
