socialmedian: Theme of the week: unintended consequences -- GuruFocus.com

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Theme of the week: unintended consequences -- GuruFocus.com

Submitted by Lucaswyrsch

Nov 07, 2009

Summary

Jeremy Siegel defends the Efficient Markets Hypothesis: When you are at Wharton as I was during my undergraduate years, it is hard to escape the aura of the school’s most famous finance professor Jeremy Siegel.

Even before I was interested in the stock market I had read his now somewhat controversial bookStocks for the Long Run. As a result of the recent crisis and miserable track record of the S&P over the last 10 years, Siegel has had to deal with a significant amount of criticism. Many financial commentators now suggest that buy and hold is dead. Those who disagree point out that Warren Buffett has used a buy and hold strategy that has made him one of the world’s richest men. The problem with using Buffett as an example is that Berkshire is now so large that the portfolio is very inflexible and thus is forced to employ a buy and hold platform. Read the full article

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