The Rewind: Dare to Be Great
The Memo by Howard Marks
00:00
Is the Efficient Market Hypothesis True?
Under the effichent market hypothesisis assume they're all active and rational. You have to have some edge in order to be able to say that the collective wisdom of all the other people is not up to yours, and be right. Most what we call inefficiencies come about because of ignorance or prejudice,. The number of things that people are ignorant about shrinks.
Transcript
Play full episode
