Rewarded Factors Question
Niche investing question. As the market gets more efficient, would companies with rewarded factors then price at higher multiples and thus over time the rewarded factor no longer generate alternative beta? Am I thinking about this correctly?
Benjamin Tan's avatar
Interesting thought and has validity seeing improving market efficiencies. On the flip side, with instant information and increasingly connected markets, it may also open up more opportunities to take advantage of price dislocations from emotionally driven decisions? All very theoretical here!

Mental "gymnastics"; I was going to use another word after watching a lot of South Park but I do not wish to be banned ;)



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