How Wall Street Pros Play the Market
As understanding and acceptance of the basic idea of the Efficient Markets Hypothesis has grown, money managers have had to work harder to convince an increasingly savvy investing public that they need professional help. As a result, many money managers have come to focus on a series of strategies that take advantage of the very real failures of the EMH. What’s interesting is that although these strategies go by a bunch of different names and have a lot of different justifications, they mostly come down to the same thing -- a bet that asset prices will eventually reverse their recent movements.
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