A Few Good Quotes From Capital Ideas Evolving

Blake Grossman [Barclays], “The markets are very efficient, very dynamic, constantly reaching greater levels of efficiency that makes them more and more difficult to beat. The half-lives of our strategies are shrinking”

Bob Litterman [Goldman], “I am not worried that markets are fully efficient – yet. But they are becoming more efficient all the time, and fast. The world is going quant, and there are not secrets! Alpha is in limited supply and hard to find.”

Myron Scholes, “We are one group among myriad teams making markets more efficient by compressing time.”