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Losing My Religion

edited December 2013 in Off-Topic
(How I unlearned efficient markets folly.) With apologies if this has been posted previously and also because it was originally published in April 2013, I still found it to be an intriguing article. From Sam Lee at M*

http://news.morningstar.com/articlenet/article.aspx?id=621532

Comments

  • Conclusion: "I wouldn’t feel too smug pointing at the perceived failings of those smarter than us. At least once in a while a scientist will change his mind. Most people have never significantly altered beliefs that took root while they were young. They cling to comforting delusions, and for that everyone is worse off." ...Some of us DO dare to take a peek at what's under the hood, sooner or later.
  • Ha! You're right, good one. Thanks for reposting.
    Sadly, I can’t find many old-school efficient-markets academics who’ve marked their beliefs to market.
    Myron S. Scholes and Robert C. Merton probably not good examples either=).
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