Oxford University Press's
Academic Insights for the Thinking World

  • Author: Heqing Zhu

Separating investment facts from flukes

There are hundreds of investment products in the market that claim to outperform. The idea is that certain information is identified that allow us to pick stocks that will do better than average and those that will do worse than average. When you buy the stocks that will do better and short sell the ones that you think will do worse, you have potentially identified a strategy that will ‘beat the market.’

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