Wednesday, December 17, 2014
Mutual Funds And Market Efficiency
The Efficient Markets Hypothesis is one of the most tested and most
contentious theories in social sciences. A popular test of market
efficiency is whether professional money managers can outperform the
stock market. In a nod toward market efficiency, through November 25, about 85 percent
of mutual fund managers have underperformed the stock market. The
performance of actively managed mutual funds is the worst one-year
performance in 30 years.
Christmas Price Index
The Christmas Price Index (CPI) is out and the cost of Christmas increased a mild 1 percent this year.
In fact, only 4 of 12 items for my true love increased in price this
year. Six geese-a-laying jumped an incredible 71.4 percent, while three
French hens jumped 10 percent. However, since these make up a relatively
small portion of the total index, the effect on the index inflation was
small. The 1 percent increase in the CPI over the past year was the seventh smallest over the 30 years that PNC has computed the index.
Subscribe to:
Posts (Atom)