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The "Efficient Marke |
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The “efficient market hypothesis,?which Wall Street embraced for decades, holds that in a market where everyone has equal access to the same information, rational investors will set stock prices ?and the prices will reflect the generally understood information about the value of those stocks. No one has an unfair advantage ?and no one is supposed to be able to beat the market over the long term. This is the foundation upon which the $1 trillion index-fund industry rests. |
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A New Social Contrac |
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The implications of the political realignment we¡¯ve been discussing will be much more pervasive than most people yet realize. Why? Because pressure has been building for a new social contract ever since the realignment of 1968. |
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Hot, Flat, and Crowd |
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ÀúÀÚ | Thomas L. Friedman |
ÃâÆÇ»ç | Farrar, Straus and Giroux |
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Super Crunchers |
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ÀúÀÚ | Ian Ayres |
ÃâÆÇ»ç | Bantams |
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