Andrew Beer on the Hedge Fund Industry (Podcast)
Masters in Business
00:00
Academic Finance and the Value Factor
I think there's a huge problem with academic finance in general the first problem of the most academic finance guys are also practitioners. This whole notion that academic finance is some you know objective assessment of these markets is often clouded by the fact that these guys have another paper where they're trying to sell you something. But this notion that markets get more efficient over time is absolutely true and I think you know my criticism of the value factor is that those cheap beaten up stocks were cheap and they were built to stay that way.
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