The Efficient Market Theory and Evidence
Implications for Active Investment Management
The efficient market theory asserts that the price of a security reflects all available information about its fundamental value. A consequence of the theory is that it is impossible to consistently beat the market and speculation must be a loser's game. Hence, an indexing strategy is bound to eventually beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets. The Efficient Market Theory and Evidence reviews the extensive theoretical and empirical literature on the efficient markets hypothesis (EMH). The authors base their review on the impli…
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Produktdetails
Weitere Autoren: Goetzmann, William N. / Schaefer, Stephen M.
- ISBN: 978-1-60198-468-5
- EAN: 9781601984685
- Produktnummer: 19356819
- Verlag: Now Publishers Inc
- Sprache: Englisch
- Erscheinungsjahr: 2011
- Seitenangabe: 100 S.
- Masse: H23.4 cm x B15.6 cm x D0.5 cm 166 g
- Abbildungen: Paperback
- Gewicht: 166
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