Much of financial theory is based upon the idea that individuals act rationally and consider all available information in their decision-making...

Value investing lies at the intersection of economics and psychology. Economics is important because you need to understand what assets or businesses...

Everyone who ever told me that the markets are efficient is poor.

Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the...

Ben Graham's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient...

The more the theory of efficient markets is believed, the less efficient the markets become.

Amazingly, the Efficient Market Hypothesis was embraced not only by academics, but by many investment professionals and corporate managers as well....

I'd be a bum on the street with a tin cup if the markets were efficient. (Warren Buffett on the efficient market hypothesis)

The efficient market hypothesis is almost, but not quite, correct, and this seemingly small distinction makes all the difference in the world. Most of...