Can you help me recall a phrase about economic theory?

It’s market efficiency.

Furthermore, as an economist who works in investor relations, I can tell you with complete certainty: there’s no such thing as efficient markets.

@bob_ Thanks so much. It’s been driving me to distraction trying to remember the exact wording. And how right you are about it being oxymoronic.

I’m always right. Modest, too :)

@bob_ Where do you see behavioural economics and behavioural finance beliefs being accepted and is it starting to change the way economists see fluctuations in markets and influence their explanations?

@cazzie There are quite a few papers about them. I think it’s a matter of time before the economists who see the world (and the markets) as a mere math problem realize there’s something else. There’s no such thing as efficient markets ‘cause there’s no such thing as homo economicus.

@bob_ & @cazzie Quants spending too much time in offices. They should take some time off, go to the track and bet on some horses or something. :-)

@ETpro Indeed :)

Nowadays most trading is done by computers.