Download This PaperThe Five Investor Camps That Try to Beat the Stock Market
12 Pages Posted: 29 Oct 2019
Date Written: October 19, 2019
Abstract
This paper categorizes investors into five groups. They are: efficient markets, risk premium, genius superior traders, rejectors of efficient market theory and those who use research to make superior risk adjusted returns. Successful investment involves estimation and optimization and these are discussed.
Keywords: efficient and inefficient markets, risk premium, Samuelson’s superior investors, Buffet’s investment approach, superior investors approaches and techniques, effect of parameter errors on optimal investment choice, Kelly, fractional Kelly optimization
JEL Classification: C02, G11, G12
Suggested Citation: Suggested Citation
Ziemba, William T., The Five Investor Camps That Try to Beat the Stock Market (October 19, 2019). Available at SSRN: https://ssrn.com/abstract=3472456 or http://dx.doi.org/10.2139/ssrn.3472456
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