By
Borsgade
In this interview with Bloomberg, Cliff Asness from AQR discusses how market inefficiencies are becoming more pronounced and persistent over time.
Here are the key points:
[…] The bigger question I’m trying to answer is I see this as a sign of the market getting less efficient about pricing.
In principle, we all think things should get more efficient over time. Technology marches on, data is more available. Things that were available at a lag are available instantly now, but I think most of those things go to speed, not to accurate pricing.
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