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Technology has made markets less efficient at long horizons rather than more efficient.
Drawn from what Cliff Asness said
Subjectmarket efficiency
What Cliff Asness actually said
- Cliff Asness Co-founder of AQR Capital Management
Above I dismissed the notion that technological advances should make the market more efficient in all but the short-term sense. Here, I argue it likely goes the other way at longer horizons. And, IMHO, this is the best of my three hypotheses.
Added to korrents 29 Aug 2026 · How quotes work · Something wrong? Tell us
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