Market Efficiency
topic on 2 shows · 5 statements across 5 episodes
Cheeky Pint 
Capital Allocators
5 statements about Market Efficiency, every show
Public stock markets have become less efficient despite universal access to information
“It should be correctly priced because everyone has access to the same information. It's actually gotten less efficient over time, for sure.”
Cook: Short sellers must hold positions longer for markets to become efficient
“Really good short ideas are hard to come by and the market's pretty smart. The longer you give the market, the more likely it is to be efficient.”
Ellis: Increasing manager talent makes markets hyper-efficient, diminishing active outperformance
“The biggest information for people who are interested in the profession and for people who are looking for a good manager is the data documenting the inability of active managers to outperform other brilliantly talented, fully informed, Fabulous equipment, act…”
Druley: Less active management could make markets less efficient
“In some ways, it may provide us even additional opportunity if you have less people actually pursuing active management. It could make the markets a little less efficient, if you will.”
Johnson: Investor diversity and independence are fundamentally distinct market mechanisms
“Diversity and independence are completely different issues. Lack of diversity is when everyone's thinking the same way. Independence is slightly different, where people are diverse, but when they go to express their opinion, then they're collectively influence…”