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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IN THIS EPISODE YOU’LL LEARN:

What a Portfolio Manager does.
What "Common Sense Investing" is and which of these ideas are missing in mainstream thinking today.
Why an investor may not want diversification.
What the pros and cons of buying or renting a home are.
What is the efficient market hypothesis.
And much, much more!

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Get daily content from Robert on Instagram @therobertleonard
Read this episode’s transcript and full show notes on TIP: theinvestorspodcast.com/millennial-investing
John Bogle’s book The Little Book of Common Sense Investing.
The Stock Market vs. The Economy video.
Joel Greenblatt’s book The Little Book That Still Beats the Market.
Understanding the Fed’s “Money Printer”.
Guy Spier’s book The Education of a Value Investor.
What is compound interest and why is it so important?
All of Robert’s favorite books.

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