When you buy a lottery ticket, you don't know how tickets have been sold. But sold they have been. And there is an underlying distribution for the game.

The cheaper the stock, the better the outlook for future returns.

A comprehensive list of factors brings predictive stability and predictive stability and predictive power.

So you see, in the end, it is nearly certain that the power of prediction must triumph over the arrogance of elegance.

If we observe the performance of only those funds that remain active, we will tend to find that the average performance of the surviving funds exceeds that of the market.

CAPM also makes use of what is called a "definitional identity." This is something that is automatically true, simply because of the way things have been defined.

When you buy a lottery ticket, you don't know how tickets have been sold. But sold they have been. And there is an underlying distribution for the game.