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Episode #7 - Six Challenges to Market Efficiency
Manage episode 372164441 series 3485712
Dr. Bryan Foltice द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Dr. Bryan Foltice या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।
In this episode, we explore various market observations that challenge semi-strong market efficiency. Here, we learn about six challenges of market efficiency and discuss the three issues to arbitrage exploitation.
00:00 Introduction
01:40 Exercise in Market Efficiency - Beauty Contest
09:48 Market Efficiency Forms (Strong, Semi-Strong, Weak) Review
12:33 Six Challenges to Market Efficiency (Semi-Strong) - #1 Small/Large Cap Stocks
13:48 Challenge #2 - Value/Growth Stocks
15:40 Challenge #3 - P/E Ratios (Low/High Price to Earnings Ratios)
19:18 Challenge #4 - Negative Earnings Momentum
22:32 Challenge #5 - Momentum Investing
29:55 Challenge #6 - Contrarian Strategy Investing
32:17 Market Efficiency and Arbitrage (Risk-Free Profits)
33:15 Three Issues to Arbitrage Exploitation (Fundamental Risk, Noise Trader Risk and Implementation Costs)
Papers Referenced in Podcast
Dolvin S. & Foltice, B. Using Simple Technical Analysis Indicators for Asset Allocation Decisions. Journal of Wealth Management, 24(3), 31-41 (2021).
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3732822
Foltice, B. & Langer, T. (2015) Profitable momentum trading strategies for individual investors. Financial Markets and Portfolio Management, 29(2), 85-113.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2420743
Dolvin S. & Foltice, B. “Where Has the Trend Gone? An Update on Momentum Returns in the U.S. Stock Market” with Steven Dolvin. Journal of Wealth Management, 20(2), 29-40 (2017).
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2813333
I hope you enjoy the content and learn all about the topic of Behavioral Finance. I've set up the first few podcasts as mini lectures of my Behavioral Finance course that I teach at Butler University each semester. The goal of this podcast is to provide a comprehensive look into the topic of Behavioral Finance - for free!
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