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← Technology has made markets less efficient at long horizons rather than more efficient.
17 connected korrents · 16 moments from 23 Jan 2021 to 21 Sept 2026.
Everything filed under market efficiency
market efficiency
Everything filed under investing
investing
Everything filed under capitalism
capitalism
Everything filed under price gouging
price gouging
Everything filed under innovation
innovation
Everything filed under stock market
stock market
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Google Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Technology has made markets less efficient at long horizons rather than more efficient. Technology has made markets less efficient at long horizons rather than more efficient. Last stated 2 years ago
3 Sept 2024
CA
Cliff Asness — holds since 2024-09-03 — tap for who they are
Same subject: The stock market has become less informationally efficient over the past thirty-plus years, particularly in the relative pricing of common stocks over medium horizons. — tap to centre the map on it The stock market has become less informationally efficient over the past thirty-plus years, particularly in the relative pricing of common stocks over medium horizons. Last stated 2 years ago
3 Sept 2024
CA
Cliff Asness — holds since 2024-09-03 — tap for who they are
Same subject: The claim that passive investing has made markets less efficient is overwrought. — tap to centre the map on it The claim that passive investing has made markets less efficient is overwrought. Last stated 4 months ago
18 Jun 2026
AD
Aswath Damodaran — holds since 2026-06-18 — tap for who they are
Same subject: The case for a technological slowdown since about 1970 is not convincing. — tap to centre the map on it The case for a technological slowdown since about 1970 is not convincing. Last stated 6 years ago
23 Jan 2021
JC
Jason Crawford — no longer holds since 2021-01-23 — tap for who they are
Same subject: The efficient market hypothesis is at best a very lossy heuristic — tap to centre the map on it The efficient market hypothesis is at best a very lossy heuristic Last stated 2 months ago
4 Sept 2026
NF
Nat Friedman — holds since 2026-09-04 — tap for who they are
Same subject: The long trend of making it easier for ordinary people to index more of the economy will resume, and AI itself will help by cutting the cost of going public. — tap to centre the map on it The long trend of making it easier for ordinary people to index more of the economy will resume, and AI itself will help by cutting the cost of going public. Last stated 5 months ago
4 Jun 2026
PT
Phil Trammell — holds since 2026-06-04 — tap for who they are
Same subject: Efficiency gains in a growth-driven industry tend to be absorbed into even greater expansion rather than reducing net resource use. — tap to centre the map on it Efficiency gains in a growth-driven industry tend to be absorbed into even greater expansion rather than reducing net resource use. Last stated 4 months ago
1 Jul 2026
KJ
Ketan Joshi — holds since 2026-07-01 — tap for who they are
Same subject: Prediction markets seem, for now at least, to be efficient processors of public information and a good index of conventional wisdom but not necessarily a source of fresh insights. — tap to centre the map on it Prediction markets seem, for now at least, to be efficient processors of public information and a good index of conventional wisdom but not necessarily a source of fresh insights. Last stated a month ago
21 Sept 2026
MY
Matthew Yglesias — holds since 2026-09-21 — tap for who they are
Same subject: The market place of ideas isn't perfectly efficient or perfectly rational — tap to centre the map on it The market place of ideas isn't perfectly efficient or perfectly rational Last stated 2 years ago
8 Jun 2024
DH
David Heinemeier Hansson — holds since 2024-06-08 — tap for who they are
Same subject: Draconian price controls are among the most ruinous economic policies a government can impose. — tap to centre the map on it Draconian price controls are among the most ruinous economic policies a government can impose. Last stated a month ago
18 Sept 2026
SS
Scott Sumner — holds since 2026-09-18 — tap for who they are
Same subject: Dynamic pricing means prices decrease as well as increase. — tap to centre the map on it Dynamic pricing means prices decrease as well as increase. Last stated a month ago
13 Sept 2026
PG
Paul Graham — holds since 2026-09-13 — tap for who they are
Same subject: Europe's carmakers spent the early 2020s raising prices and profits at their customers' expense, and narrowed their own market doing it. — tap to centre the map on it Europe's carmakers spent the early 2020s raising prices and profits at their customers' expense, and narrowed their own market doing it. Last stated 3 months ago
22 Jul 2026
AT
Adam Tooze — holds since 2026-07-22 — tap for who they are
Same subject: A bubble can only be identified in retrospect, so arguing about whether one is happening now cannot be settled now. — tap to centre the map on it A bubble can only be identified in retrospect, so arguing about whether one is happening now cannot be settled now. Last stated 10 months ago
9 Dec 2025
HM
Howard Marks — holds since 2025-12-09 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A founder who does not know their own goal dies by a thousand compromises and ends up running a company they do not want to work at. — tap to centre the map on it A founder who does not know their own goal dies by a thousand compromises and ends up running a company they do not want to work at. Last stated 5 months ago
2 Jun 2026
MP
Mark Pincus — holds since 2026-06-02 — tap for who they are
Same subject: A competitive market involves no personal rivalry and no personal haggling — tap to centre the map on it A competitive market involves no personal rivalry and no personal haggling
MF
Milton Friedman — holds since c. 1962 — tap for who they are
Same subject: A market becomes commodified through fungibility of alternatives, not merely through lower price. — tap to centre the map on it A market becomes commodified through fungibility of alternatives, not merely through lower price. Last stated 2 months ago
26 Aug 2026
RK
Rohit Krishnan — holds since 2026-08-26 — tap for who they are
Same subject: A market economy rewards putting land under campsites and horse liveries rather than under food, and that is the wrong thing to reward. — tap to centre the map on it A market economy rewards putting land under campsites and horse liveries rather than under food, and that is the wrong thing to reward. Last stated 3 years ago
9 Dec 2023
CS
Chris Smaje — holds since 2023-12-09 — tap for who they are