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Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
Lasse Heje Pedersen
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Description for Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
Hardback. Num Pages: 368 pages, 65 line illus. 16 tables. BIC Classification: KCA; KFFM. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 247 x 166 x 33. Weight in Grams: 776.
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade ... Read more
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money--and why they sometimes don't. Pedersen views markets as neither perfectly efficient nor completely inefficient. Rather, they are inefficient enough that money managers can be compensated for their costs through the profits of their trading strategies and efficient enough that the profits after costs do not encourage additional active investing. Understanding how to trade ... Read more
Product Details
Publisher
Princeton University Press
Format
Hardback
Publication date
2015
Condition
New
Weight
764g
Number of Pages
368
Place of Publication
New Jersey, United States
ISBN
9780691166193
SKU
V9780691166193
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-50
About Lasse Heje Pedersen
Lasse Heje Pedersen is a finance professor at Copenhagen Business School and New York University's Stern School of Business, and a principal at AQR Capital Management. A distinguished financial economist, he has won a number of awards, notably the Bernacer Prize, awarded to European economists under forty who have made outstanding contributions in macroeconomics and finance.
Reviews for Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined
"Pedersen's book can be recommended to a wide spectrum of readers interested in financial markets in general and hedge funds in particular."
Jacek Klich, Central Banking "Encyclopedic in its cataloguing of active management strategies and authoritative in its analysis of the practical issues of their implementation. Pedersen grounds his exposition in landmark scholarly articles and, where quantitative analysis is required to ... Read more
Jacek Klich, Central Banking "Encyclopedic in its cataloguing of active management strategies and authoritative in its analysis of the practical issues of their implementation. Pedersen grounds his exposition in landmark scholarly articles and, where quantitative analysis is required to ... Read more