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Inefficiencies

In: Investment Beliefs

Author

Listed:
  • Kees Koedijk

    (Tilburg University)

  • Alfred Slager

    (Tilburg University
    Stork Pension Fund)

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.

Suggested Citation

  • Kees Koedijk & Alfred Slager, 2011. "Inefficiencies," Palgrave Macmillan Books, in: Investment Beliefs, chapter 5, pages 49-57, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-30757-5_5
    DOI: 10.1057/9780230307575_5
    as

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