Seventeen Predictions for 2017

In our predictions for 2016 we recommended that investors hedge when they had less than a 50% chance of being correct and invest where they had a clear, repeatable edge. After a year of surprises, we hope this was useful advice and recommend the same disciplined approach to markets today. For considerations outside of the […]

The Future of Market Efficiency

Amidst the recent uptick in volatility an important question resurfaced: are markets efficient? People on each side of this issue now share a Nobel Prize so the debate is far from straightforward, but wide swings in wealth without change in economic fundamentals provide ample support for its relevance.