The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of… — Robert Haugen Copy Share Image
Although efficient markets people still go around saying there is a "mountain" of evidence supporting their hypothesis, the truth of the matter is that… — Robert Haugen Copy Share Image
So you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance. — Robert Haugen Copy Share Image
If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving… — Robert Haugen Copy Share Image
A comprehensive list of factors brings predictive stability and predictive stability and predictive power. — Robert Haugen Copy Share Image
Less volatile stocks tend to have negative abnormal profits; more volatile stocks tend to have positive abnormal profits. — Robert Haugen Copy Share Image
CAPM also makes use of what is called a "definitional identity." This is something that is automatically true, simply because of the way things… — Robert Haugen Copy Share Image
When you buy a lottery ticket, you don't know how tickets have been sold. But sold they have been. And there is an underlying… — Robert Haugen Copy Share Image
In real-world Finance, they don't pay for elegance. They pay for power - predictive power. — Robert Haugen Copy Share Image
In going directly to Investment Heaven, you build your portfolio as you would build a wonderful company through a merger and acquisition program. You… — Robert Haugen Copy Share Image
The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it… — Robert Haugen Copy Share Image
Behaviorists tell us that we tend to overweight and overreact to the most recently received information. If we do, we will find that the… — Robert Haugen Copy Share Image
