2007/08/1

the market efficiency cult

August 01st 2007 Posted to Uncategorized

I actually find market efficiency arguments quite appealing, but when the assumptions are not made clear, the inevitable hand-waving gets to be irritating…

Here’s some random guy’s page. He’s a big proponent of using a total market portfolio: http://homepage.mac.com/j.norstad/finance/total.html

His hand-waving is almost convincing, almost. Okay, “J. Norstad”, let’s take you point by point.
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