One of the best for me, that hasn't been mentioned here is ...
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Forum feedback on statements made from King Yao
I am currently reading King Yao's book. In it, he says:
"The efficient-market theory says it is difficult or impossible to beat the market with public information...The strong form of the theory says investors can not consistently generate greater-than-average market returns based on public information, and that the average market price reflects all public information about the asset"
Just wanted to read some thoughts from the experienced members of the site on these statements.
What kind of non-public information would one need to obtain to successfully beat the market in, lets say, baseball? Baseball-reference and fangraphs are public and give out enough information needed to succeed.
Thoughts???Comment -
Last season for example, the Marlins late in the season sent down to the minors one of their best players (Logan Morrison), so he wasn't demoted for performance reasons and it had nothing to do with an injury. That much was public information. As to the reason why he was sent down, well that wasn't made so public, but through sources you could get more info. Seems the reason was, that LoMo had tweeted something negative about the Marlins' owner. So just to put LoMo in his place, totally an ego move, he was sent down to the minors which understandably just ate LoMo up big-time. I believe the Marlins manager had already resigned at the time. This type of move sends a rift through the whole team, as when a teammate is demoted for what he does on his own time verse what he does on the field, players will support their teammate (especially when the player gives his all day in and day out). When you can learn of these inter-team turmoils, you can profit hugely. The Marlins subsequently went on a losing streak, and you could tell the team's heart was somewhere else.Comment -
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