Robert Haugen: Market

Robert Haugen was American economist. Explore interesting quotes on market.

Robert Haugen: 26 quotes0 likes

“If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds exceeds that of the market.”

Source: The Inefficient Stock Market - What Pays Off And Why (1999), Chapter 6, Counterattack-The First Wave, p. 63 (See also: Survival bias)

“Although efficient markets people still go around saying there is a "mountain" of evidence supporting their hypothesis, the truth of the matter is that it's a very old mountain that's now eroding rapidly into the sea.”

Source: The Inefficient Stock Market - What Pays Off And Why (1999), Chapter 1, Introduction, p. 2

“The New Finance focused on the market's major systematic mistake. In failing to appreciate the strength of competitive forces in a market economy, it over estimates the length of the short run. In doing so, it overreacts to records of success and failure for individual companies, driving the prices of successful firms too high and their unsuccessful counterparts too low.”

Source: The Inefficient Stock Market - What Pays Off And Why (1999), Chapter 15, The Wrong 20-yard Line, p. 142