Capital Market Theory




Course Work

Value Based Research




Capital Market Theory sets the environment in which security analysis is preformed.   Without a well constructed view of modern capital markets, security analysis may be a futile activity.  A great debate, and great divide, separates the academics, with their efficient market hypothesis, and the practitioners, with their views of market inefficiency.  Although the debate appears surreal and unimportant at times, its resolution is immensely critical to conducting effective security analysis and performing success investing.

On this page, we would like to help bridge the gulf between the "camps."   Each group brings an important perspective and each perspective is important to the debate.  The following reports present a perspective that may help resolve the conflict.

Click on the titles to view the reports in Acrobat

Capital Ideas Revisited - part 2 - May 20, 2005

Capital Ideas Revisited - March 30, 2005

The Life of Game - August 5, 2004


Revisiting Market Efficiency: The Stock Market as a Complex Adaptive System - Winter 2002

Shift Happens - October 24, 1997






This page was last updated on 07/10/11.