Research Review: More on market anomalies
Ron Bird | Investment Management Research Program | 01 October 2019 | 1.00 CE
The academic literature continues to highlight more mispricings in markets. Indeed, one interpretation (and definitely one I would adhere to) is that markets are becoming less efficient through time. The first of the papers discussed below highlights contributions to mispricing due to dissemination of information through the news media. The second paper provides new insights into mispricings associated with the market-to-book ratio which is a phenomenon we have been aware of for half a century.
