Peak Google?
Alan Patrick is sticking his neck out and calling the top on Google’s growth. I am not convinced, and there are specific points that I have comments on. (more…)
The market is just inefficient enough
Richard Beddard’s extensive comments on my last post on efficient markets deserve a full reply. He is correct that I did not make it clear that the paper says that a behavioural explanation of the abnormal returns is possible. (more…)
Evidence for market efficiency
A working paper that is nicely summarised on the Empirical Finance Research Blog shows how markets react to information rapidly, that they are not perfectly efficient, and how those setting the efficient market price are rewarded. (more…)
Time for growth investing
I am hardly the first person to recommend switching to growth investing. There has recently been crop of strategists arguing that we are at the point in the cycle where growth is likely to out-perform, as economic growth returns. (more…)
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Value investing, efficient markets and CAPM
The value effect, does not cast doubt on the efficient market hypothesis (as Richard Beddard suggests), but on CAPM. Nonetheless, I still think investors should use CAPM, or something very like it. (more…)
Proof clever people diversify.
its true. Research shows that the higher people’s IQ: (more…)
Efficient markets, bamboozled journalists and stupid regulators
The media seems to have reached a consensus that the efficient markets hypothesis (EMH) has been discredited by the financial crises. I have been somewhat bemused by this, as I could not see the connection. (more…)
What’s wrong with software patents
A quick summary of things that came up in a discussion that I was surprised was not evident to most people: (more…)
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Alan Sugar fails to understand education
Alan Sugar has called for “enterprise lessons” in schools. While a capitalist economy may benefit from there being some people like Alan Sugar, I see absolutely no evidence that we need more of them. (more…)
Blog split
I have effectively split this blog into two. I will stop posting on investment and finance related topics here, and instead post on my new blog on my Moneyterms site. (more…)
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