He claimed he didn’t pick these people because they already had an outstanding track record. He said he selected these people years ago based upon their framework for investment decision-making. Of course finance professors didn’t believe him, and many questioned his motivation. Warren Buffett was arguing that markets were inefficient, whereas professors were arguing they were.That speech was back in 1984. Who was correct--Warren Buffett or the finance professors?Insider Monkey has the score at Business Insider.
Saturday, December 4, 2010
In a speech arguing that the efficient market theory is bogus, Warren Buffett identified 9 fund managers who he said would beat the market.
Friday, November 26, 2010
A bit over a year ago I pointed to my review of David Einhorn's book Fooling Some of the People All the Time, saying that you could read the opening paragraphs online. Since that time, Einhorn has linked to that review from the book's website and the editor of The Objective Standard has allowed the review to be read in full online. Enjoy!