Origins and Value of The Essays of Warren Buffett: Lessons for Corporate America

HFA Padded
Guest Post
Published on
Updated on
buffett cover for blog

In 1995, I was a third-year professor of corporate governance researching literature about the disciplining effect of stock markets on managerial behavior. Stock markets were viewed as so efficient that price was a transparent report card on executive performance.  This implied a modest need for other governance devices such as board oversight or fiduciary duties.  But there were also nagging questions about market efficiency.  Called anomalies, these were exceptions to efficiency where the evidence showed that price was noisy, not always a clear signal. A rich debate would soon take place when economists attracted to behavioral psychology, such as Robert…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

If you are interested in contributing to ValueWalk on a regular or one time basis read this post http://www.valuewalk.com/guest-posts-hedge-fund-letters/ We do not accept any outside posts or even ads on penny stocks, ICOs, cryptos, forex, binary options and related products.