If you can use past returns to construct a trading strategy that makes money (has a positive

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If you can use past returns to construct a trading strategy that makes money (has a positive alpha), it is evidence that market portfolio is not efficient. Explain why.

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Corporate Finance

ISBN: 9780137845071

6th Edition

Authors: Jonathan Berk, Peter DeMarzo

Question Posted: Jun 12, 2024 01:13 AM

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If you can use past returns to construct a trading strategy that makes money (has a positive alpha), it is evidence that market portfolio is not efficient. Explain why.
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If you can use past returns to construct a trading strategy that makes money (has a positive

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Corporate Finance

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