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

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

Less volatile stocks tend to have negative abnormal profits; more volatile stocks tend to have positive abnormal profits.

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

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.

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.

Behaviorists tell us that we tend to overweight and overreact to the most recently received information. If we do, we will find that the information that we thought was so important becomes tempered, and reduced in significance, by new and related information that follows.