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You are here: Home / Archives for efficient market hypothesis

507 Plus: Performance Attribution Revisited, Efficient Market Hypothesis, Private Credit

January 18, 2025 by David Stein · Updated January 28, 2025

In Plus episode 507, we provide an update on the stock market performance attribution shared last week. We consider whether asset class pricing follows the efficient market hypothesis so asset classes can't be over or undervalued. We analyze the energy company Phoenix Capital and compare investing in its unsecured bonds to a more diversified private credit fund such as those offered by Cliffwater. … [Read more...]

Filed Under: Money Plus Tagged With: efficient market hypothesis, private credit

198 Plus: Market Efficiency, Tracking Error and Securities Lending

March 31, 2018 by David Stein · Updated May 12, 2021

This week March 30, 2018, we look at whether it is possible to get an "information interpretation edge" in terms of taking advantage of market participants overreacting to information that is publicly available. We also look at how indices are reconstituted, how index funds and ETFs track their underlying benchmarks, tracking error and securities lending. … [Read more...]

Filed Under: Uncategorized Tagged With: efficient market hypothesis, indexing, securities lending, small cap stocks, tracking error

170: Are Financial Markets Efficient?

August 30, 2017 by David Stein · Updated March 12, 2024

How investment markets can be both efficient and inefficient depending on the environment. Photo by Igor Ovsyannykov In this episode you’ll learn: What is the efficient market hypothesis. Why we are not optimizers but satisficers. How investors use emotion and heuristics to navigate complexity. How hedge funds are indicator species to financial market turmoil. Show Notes Adaptive Markets: Financial Evolution at the Speed of Light by Andrew Lo The Misbehavior of … [Read more...]

Filed Under: Podcast Tagged With: efficient market hypothesis, Fama (Eugene), Lo (Andrew W.), satisfice, Simon (Herbert A.)

70: Rule #1 and the Investor’s Journey

August 19, 2015 by David Stein · Updated November 23, 2021

Should you invest like Warren Buffet? How your temperament, experiences, interests and skills influence how you invest. Plus why most passive index investors unknowingly make active investment decisions. Photo by J.D. Stein In this episode you'll learn: How investing is like being on a hero's journey.How to invest like Warren Buffet and Phil TownWhy most active managers don't beat the market.What is the efficient market hypothesis.What assets and weights comprise the … [Read more...]

Filed Under: Podcast Tagged With: Buffett (Warren), buy-and-hold, efficient market hypothesis, ETFs, global market portfolio, indexing, investment styles, passive investing, rebalancing

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