Efficiently Inefficient by Dan Pedersen
How Smart Money Invests and Market Prices Are Determined
A concise guide to active investing that argues markets are competitive yet leave pockets of opportunity for skilled managers. It explains the frictions and behavioral biases that create risk premia and mispricings, and shows how strategies such as value, momentum, carry, event-driven, macro, and arbitrage aim to capture them. Blending models with real-world case studies and interviews with prominent investors, it covers performance evaluation, factor exposures, fees and trading costs, risk management, and portfolio construction to clarify when and why active management can add value.
- Published
- 2015
- Nationality
- American
- Length
- Unknown
- Pages
- Unknown
- Original Language
- English
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- Alternate Titles
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