Bazerman makes a pretty convincing case in his write-up regarding the futility of trying to "beat the market." If this is the case, is the securities industry doing anything more than profiting from carefully cultivated investor irrationality? Additionally, have you made any investment strategy changes after reading the write-up?
In my opinion that is exactly what the securities industry is profiting on - investor irrationality. The ...
This response discusses the effectiveness of the securities industry and investment strategies based on the notion that trying to "beat the market" was ineffective.