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TIP526: Quality Investing: Lessons from Terry Smith
We Study Billionaires - The Investor’s Podcast Network
The Efficient Market Hypothesis
In 2013, Terry Smith wrote an article called Return Free Risk, Why Boring Is Best. He then went on to explain how the efficient market hypothesis states that, in order to achieve higher returns, you must take on more risk. In practice, and when looking at the data, Smith found that this is not necessarily true. This allows investors like him to buy those companies that are underappreciated and end up outperforming the market over the long run. Then he lists his 10 golden rules of investment.
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