MI Rewind: Common Sense Investing w/ Ben Felix
The Intrinsic Value Podcast - The Investor’s Podcast Network
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The Efficient Market Hypothesis
Market efficiency is a model for reality, but it's not reality. The market cannot be perfectly efficient because of frictions and the groseman diglets paradox. If you want higher expected returns, concentrating in stocks with higher expected returns probably makes a lot of sense. Like stocks with robust profitability and low prices. Those types of stocks have higher expected returns.
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