Book description
Sparked with wry wit and humor, this clever and insightful text provides clear and undeniable evidence that the stock market is, in the author's view, inefficient, and that important aspects of market behavior cannot be explained by models based on rational economic behavior. Intended for Financial Markets and Institutions, and…
Why read it?
1 author picked The Inefficient Stock Market as one of their favorite books. Why do they recommend it?
Long before factor investing became mainstream, Haugen was making waves by proving that markets aren’t as efficient as economists once believed. When I first encountered his research, I felt a mix of excitement and validation—his data-backed insights on low-risk stocks outperforming high-risk ones aligned perfectly with my own findings.
This book is a goldmine for anyone who wants to dig into the origins of quantitative investing. Haugen wasn’t just ahead of his time—he changed the way we understand market inefficiencies.
From Pim's list on change the way you think about risk and return.
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