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Bridge over ocean
1 June 2012 Research Foundation

Expected Returns on Major Asset Classes

  1. Antti Ilmanen, PhD

Can the art and science of investment management be reduced to a set of patterns that markets generally follow, in apparent violation of the efficient market hypothesis?

Expected Returns on Major Asset Classes View the full book (PDF)

Can the art and science of investment management be reduced to a set of patterns that markets generally follow, in apparent violation of the efficient market hypothesis? Can investors reasonably expect to make money from the knowledge of these patterns, even after they have not only been identified but also widely exploited? Although one’s first guess might be that the answers to these questions are no, at least sometimes, the answer is yes.