Charley Ellis says a massive increase in market efficiency is one reason why stock pickers have lost their edge.
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If you think you or anyone running a mutual fund or hedge fund have what it takes to consistently pick stocks or bonds that outperform the overall market, think again. The data prove you wrong, and Charley Ellis explains why.
Ellis, renowned financial author, professor, and a former chair of the Yale University endowment, recently explained his reasoning in an interview with public television’s Consuelo Mack for her “WealthTrack” show. He also has a new book, , a retrospective of his best financial thinking over six decades….
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