added by Matthew Giampetroni · updated 2y ago
Who Is On the Other Side?
- Once we believe something, the mistakes we make often serve to preserve our view
from Who Is On the Other Side? by Michael Mauboussin
Matthew Giampetroni added 2y ago
- markets cannot be perfectly efficient because there is a cost to gathering information and reflecting it in asset prices and therefore there must be a proportionate benefit in the form of excess returns
from Who Is On the Other Side? by Michael Mauboussin
Matthew Giampetroni added 2y ago
- If you buy or sell a security and expect an excess return, you should have a good answer to the question “Who is on the other side?” In effect, you are specifying the source of your advantage, or edge.
from Who Is On the Other Side? by Michael Mauboussin
Matthew Giampetroni added 2y ago
- Behavioral inefficiencies may be at once the most persistent source of opportunity and the most difficult to capture
from Who Is On the Other Side? by Michael Mauboussin
Matthew Giampetroni added 2y ago