Introducing the Concept of Local Market Efficiency

Anyone who has experience in the market learns respect.  Your account tells you daily the verdict of the market.  The Efficient Market Hypothesis, which is a central theme at "A Dash," holds that each piece of news gets accurately priced into every stock in a forward-looking fashion. I have maintained that markets can get very […]

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Determining the Contrarian Position

Continuing our analysis of the Contrarian Approach to investing, a concept we strongly endorse, we run headlong into the question:  Where is the crowd?  We want to be somewhere else! Much of the opinion about market sentiment is anecdotal.  Those with contacts in the hedge fund community claim to know which way positions are leaning.  […]

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