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19min chapter
Bigger Extremes, Better Returns | Cliff Asness on the "Less Efficient Market Hypothesis"
Excess Returns
Navigating Market Inefficiencies and Passive Investing
This chapter examines market inefficiencies and their significant implications for investment strategies, emphasizing how passive investing practices can distort market dynamics. It discusses the tension between capital influx into passive strategies and the true influence on stock prices, especially regarding different market capitalizations. Furthermore, the chapter explores the role of technology and social media in shaping investment behavior, drawing parallels to historical market bubbles and the challenges they create for maintaining market efficiency.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode