Category Archives: Efficient Markets

Interview With A High-Frequency Trader | ZeroHedge

Interview With A High-Frequency Trader | ZeroHedge. I think the best way to understand HFT’s impact on you is to understand its advantages over you. There are three major ones. One, HFTs have better access to the market. They have … Continue reading

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Stock Research, For a Select Few – WSJ.com

Stock Research, For a Select Few – WSJ.com. A growing group of Wall Street salespeople and brokers has created a shadow stock-research business that caters to big, fast-money traders but isn’t available to retail investors. On July 10, for instance, … Continue reading

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Investor Sentiment and Stock Prices: Explaining the Ups and Downs – Knowledge@Wharton

Investor Sentiment and Stock Prices: Explaining the Ups and Downs – Knowledge@Wharton.

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Excerpt: Mike Mayo’s Exile on Wall Street – WSJ.com

Over the past 12 years, longtime banking analyst Mike Mayo has issued numerous calls to sell bank stocks, a rarity in a system where nearly all stocks are rated buy or hold. His negative ratings have frequently gotten him in … Continue reading

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On Wall St., a Keynesian Beauty Contest – NYTimes.com

On Wall St., a Keynesian Beauty Contest – NYTimes.com.

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GMO LLC – Home

GMO LLC – Home. Read the two articles below. To read Part 1 of Jeremy Grantham’s 2Q 2011 letter, please click the title. To read Part 2 of Jeremy Grantham’s 2Q 2011 letter, please click the title.

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‘Shared Value’ Gains in Corporate Responsibility Efforts – NYTimes.com

‘Shared Value’ Gains in Corporate Responsibility Efforts – NYTimes.com. Shared value is an elaboration of the notion of corporate self-interest — greed, if you will. The idea that companies can do well by doing good is certainly not new. It … Continue reading

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“How Quickly They Forget” Oaktree Memo from our Chairman

Oaktree Memo from our Chairman.

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The Misguided Attack on Derivatives – WSJ.com

Download 2010-4-26 The Misguided Attack on Derivatives – WSJ.com How derivitatives increase market efficiency.  Several excellent points in this article. After years of finger pointing for the housing bubble and credit crisis, from Washington to Wall Street and back, the … Continue reading

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Calpers Changes Their Hurdle Rate – Risk Premium Matters

Download 2010-3-1 Calpers May Cut Rate-of-Return Forecasts – WSJ.com Since 2003, the California Public Employees' Retirement System has assumed that the value of its stocks, bonds and other holdings would increase by 7.75% a year. But the likelihood of an … Continue reading

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