Are Financial Markets Efficient? - Raghavendra Rau

One of the crucial ideas in finance is that markets are efficient – that they fully reflect all available information. If so, what about market bubbles? Over the last year, people have been willing to pay exorbitant amounts for extremely odd assets such as Non-Fungible Tokens, meme stocks etc. Why do they do this? This lecture will explore some investors’ systematic behavioural biases, and how these can be used to predict returns. This lecture was recorded by Raghavendra Rau on 10th June 202...