Oct 07 2024 51 mins 8
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For more educational resources, check out the Alpha Architect blog. www.alphaarchitect.com/subscribe
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Wes Gray, PhD: x.com/alphaarchitect
Jack Vogel, PhD: x.com/jvogs02
Ryan Kirlin: x.com/RyanPKirlin
Jose Ordoñez Jr: x.com/JOrdonezJr
Welcome to the Alpha Architect Round Up. Every month the Alpha Architect crew gets together and talks financial trends and news with an evidence-based outlook. This month we talk about the AQR's Cliff Asness's new paper "The Less-Efficient Market Hypothesis" and review his claims regarding the market becoming less efficient over the past 30 years, valuation spreads as an indication of inefficiency, speeds vs. accuracy of markets, indexing, low interest rates and social media contagion. Additionally, we answer questions on tactical asset allocation, permanent tail hedging and equity contracts in managed futures.
0:00 - Intro/ 2k Subs!
1:58 - Valuation Spreads & Market Efficiency
7:29 - Speed vs. Accuracy
20:26 - Indexing & Efficiency
24:22 - Low Interest Rates & Efficiency
30:35 - Social Media & Efficiency
39:56 - Tactical Asset Allocation
44:54 - Permanent Tail Hedging
48:05 - Equity Contracts in Managed Futures
51:21 - Outro
Sources: Asness, Cliff S., The Less-Efficient Market Hypothesis (August 30, 2024). 50th Anniversary Issue of The Journal of Portfolio Management, Forthcoming.
Disclosures: alphaarchitect.com/disclosures.
For more educational resources, check out the Alpha Architect blog. www.alphaarchitect.com/subscribe
Follow us on X:
Wes Gray, PhD: x.com/alphaarchitect
Jack Vogel, PhD: x.com/jvogs02
Ryan Kirlin: x.com/RyanPKirlin
Jose Ordoñez Jr: x.com/JOrdonezJr
Welcome to the Alpha Architect Round Up. Every month the Alpha Architect crew gets together and talks financial trends and news with an evidence-based outlook. This month we talk about the AQR's Cliff Asness's new paper "The Less-Efficient Market Hypothesis" and review his claims regarding the market becoming less efficient over the past 30 years, valuation spreads as an indication of inefficiency, speeds vs. accuracy of markets, indexing, low interest rates and social media contagion. Additionally, we answer questions on tactical asset allocation, permanent tail hedging and equity contracts in managed futures.
0:00 - Intro/ 2k Subs!
1:58 - Valuation Spreads & Market Efficiency
7:29 - Speed vs. Accuracy
20:26 - Indexing & Efficiency
24:22 - Low Interest Rates & Efficiency
30:35 - Social Media & Efficiency
39:56 - Tactical Asset Allocation
44:54 - Permanent Tail Hedging
48:05 - Equity Contracts in Managed Futures
51:21 - Outro
Sources: Asness, Cliff S., The Less-Efficient Market Hypothesis (August 30, 2024). 50th Anniversary Issue of The Journal of Portfolio Management, Forthcoming.
Disclosures: alphaarchitect.com/disclosures.
