Posted by on Jun 15, 2018 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Alex Nabaum


By Jason Zweig | June 15, 2018 1:20 pm ET


Wouldn’t you?

Perhaps you shouldn’t be too sure.

In a new study, finance researchers have caught investors in the act of wildly — and unnecessarily — overpaying for a stock. In effect, investors paid as much as $9.07 for shares that they could have bought at the exact same time for $1 instead. That casts some doubt on the idea that financial markets are efficient. It should cast more doubt on whether all investors, including you and me, are as shrewd as we think.


To read the rest of the column: 

The Wall Street Journal,




For further reading:


Jason Zweig, Your Money and Your Brain

Jason Zweig, The Devil’s Financial Dictionary

Benjamin Graham, The Intelligent Investor

Jason Zweig, The Little Book of Safe Money




Marc Schauten et al., “Can the Market Divide and Multiply? A Case of 807 Percent Mispricing in Absence of Arbitrage Risk

Inefficient Markets Are Still Hard to Beat

Inefficient, Schminefficient

A Short History of Folly