What Aswath Damodaran thinks about market efficiency
Professor of finance at NYU’s Stern School of Business, known for his work on valuation. Publishes his valuations, spreadsheets and data openly at Musings on Markets, and revises them in public when the numbers move against him.
Aswath Damodaran did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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2 dated positions, 2026, in their own words. Our reading of what Aswath Damodaran has said — not written or endorsed by them.
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Their wordsthere is evidence that the reversal effect has weakened over time, leaving investors who bet on mean reversion and a return to fundamentals in the lurch
↗The Scaling and Profitability Trade off: Venture Capital’s Weakest Link!aswathdamodaran.blogspot.com 4th of 5 in this piece
- 2 months earlier
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Their wordsDoomsday stories about how passive investing is making markets less efficient and less inclined to reflect fundamentals strike me as overwrought
↗SpaceX, OpenAI and Anthropic: The S&P 500 Inclusion Question and Investment Consequences!aswathdamodaran.blogspot.com 3rd of 3 in this piece