asness

Taboo Talk: Technical Analysis – Morningstar

It’s been a while since I’ve seen a portfolio manager confess to using technical analysis. Well, not using that word.
Picking stocks because of their price movements fell into academic disfavor in the 1960s, when mainframe computers gave professors the ability to collect and crunch large data sets. The University of Chicago’s Gene Fama showed that past stock prices had […]

Is the Stock Market Really Rigged? | Competitive Enterprise Institute

Everyone seems to be jumping into the debate about high-frequency trading, now that Michael Lewis is peddling his new book, Flash Boys.Lewis contends that the stock market is rigged, and that the culprit is high-frequency traders. But not everyone agrees that they are to blame, or that the stock market is even rigged to begin with.Cliff Asness, founder of AQR […]