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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (17124)	8/2/2004 1:52:59 AM
From: ild	Respond to of 110194

This Week: August 2 , 2004 Strategies for an Inefficient Market The belief that risk and expected returns go hand in hand is probably one of the most widely held misinterpretations of finance theory. What finance theory does say is that when a portfolio is efficient, the only way to increase expected return is to load additional risk. But the positive relationship between risk and expected return certainly isn't true when a portfolio is inefficient. By John P. Hussman, Ph.D. hussmanfunds.com