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The Psychology of the Stock Market

The Efficient Market Hypothesis argues that stock markets are rational – they take into account all relevant information, and incorporate it in an unbiased way. This talk will present evidence that stock prices are instead driven by human psychology. The market overreacts to some types of information yet under-reacts to others; it is driven by emotions rather than purely economic fundamentals. The lecture gives profitable trading strategies that investors can use to exploit these biases. A lecture by Alex Edmans The transcript and downloadable versions of the lecture are available from the Gresham College website: http://www.gresham.ac.uk/lectures-and... Gresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham's mission, please consider making a donation: https://gresham.ac.uk/support/