Behavioral Finance Blog Market Efficiency

Clifford Asness and John Liew, Institutional Investor, 3 March, 2014

The great divide over
Market efficiency

"The Nobel committee decided to split the economic prize between Eugene Fama and Robert Shiller – and that's okay."

(This is being posted now because it is a superbly written article on the behavioral versus efficiency perspectives in financial markets. It is written by two acclaimed experts in the field, and is destined to be a classic. It is required reading at my Behavioral Finance Course at UC Berkeley...Rick Lehman)