A Random Walk Off a Cliff: ‘Beating’

Commentary by Bob McTeer

November 05, 2008

I've always been fascinated by the question, "If you're so smart, why aren't you rich?" Why don't the experts have an advantage in stock-picking? Or do they? Are markets so efficient that they incorporate all relevant information instantly and leave us nothing to trade on? Or, can some investors "beat the market" consistently?

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