Inefficient market advocates say there are ample opportunities to exploit markets over the long-term and point to Warren Buffett as proof.
The result was an inefficient market but few interruptions in supply.
And it is a pretty inefficient market, truth be told.
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Despite a structurally imbalanced economy and a largely inefficient equity market, China still possesses tremendous potential.
This means that many non-traded REIT investors are currently stuck in the investment, and their only way out is to sell their shares in an inefficient secondary market at a deep discount.
But who wants that inefficient a market?
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And it's dysfunctional because it is stunningly inefficient with no market system to allow people to know prices and quality and make reasonable choices in a way which drives efficiencies.
The third peculiarity involves the large and inefficient nature of the muni market itself.
In too many countries, inefficient companies are shielded from market pressures, wages are too high, basic infrastructure is lacking.
The market may be inefficient, but it remains close to invincible.
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This is because, even by the standards of the industry, Europe's steel market is opaque and inefficient.
SOEs tend to be inefficient and to be disruptive of natural market activity.
In developing countries where the electricity grid is either inefficient or non-existent, the market for renewables is particularly promising.
"The Japanese market tends to be more inefficient than the American and European markets, " says Jean-Marie Eveillard, who manages several First Eagle funds.
However, what the WSJ then points out is that if this were so then those funds investing in those inefficient markets should be beating the general market: and while certain funds do do so, no class of funds does so regularly.
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However, that does not mean you should stay out of the market, with heightened volatility comes inefficient markets and that brings a lot of opportunity.
This is especially true for trusts investing in small companies, the area where the market is most likely to be inefficient and, therefore, where professional skills should be particularly worthwhile.
Yet what failed in Venezuela was not market economics, but a bloated, inefficient state and corrupt political leadership.
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Obviously, price discovery on the mainstream market, without dark pools information, becomes inefficient.
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But note that lock-in is inefficient (that is, it is a kind of market failure) only if the inferior product survives despite the fact that the benefits of switching would exceed the costs.
Liu Yongxing reckons the casualties will be the small and inefficient feed producers that control about 80% of the domestic market.
Specifically, the EPA could divert large amounts of corn from inefficient, irresponsible fuel production back into the food chain where market forces and common sense say it should go.
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Contrast that with America and Europe, where inefficient incandescent bulbs still make up, respectively, 65% and 45% of the residential market.
In the end anything that creates market inefficiency, whether tipping off favored clients or wild parties that throw business to inefficient brokers, comes out of the pockets of people who provide capital to Wall Street, like pensioners and taxpayers.
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