Lief was sold but figured he couldn't get venture capital to fund this unproved theory.
Garbage collectors, if properly coached, can quickly become sophisticated hedge fund investors, the theory goes.
FORBES: City Garbage Collectors Become Sophisticated Hedge Fund Investors
In theory, fund managers have been able freely to invest throughout the European Union ever since the abolition of capital controls in 1990.
Malkiel was in essence embracing the efficient markets theory that says fund managers as a group cannot outperform the market, so investors who pay big commissions and other management expenses are cheating themselves.
We quickly realized that technically what we had engineered was out of the reach of most individuals and many nonprofits and that most didn't understand the basic game-theory of crowd-sourced fund raising.
Our Treasury Department and the International Monetary Fund are prescribing remedies based on a bogus theory: Substantial devaluations are good for getting a country back on its feet.
In theory, this means that the rescue fund's power could be magnified several times.
The mutual fund industry (which may well have invented the theory that too much disclosure can be harmful to investors) is arguing that as long as investors know the total expenses they are paying in their 401ks, how those fees are divvied up amongst the plan services providers is irrelevant.
FORBES: "Capping" 401k Revenue Sharing: Record-keepers Block Rebates To Participants (May 19,2008)
This should, in theory, prevent discounts or premiums to the fund's net asset value.
But economic theory struggles to explain the bizarre world of fund management, where the market is fragmented but fees stay stubbornly high.
In theory, a focus on low volatility makes little sense for a pension fund or college endowment which has the luxury of taking the longer-term view.
ECONOMIST: Smooth returns can be a sign of danger for investors
In theory (again), it should make no difference whether a company decides to fund itself with shares or debt.
Wiltshire Police have said they were working on the theory that Mr Levesconte had been propping up his failing pub business with money from the Christmas club savings fund.
BBC: Missing pub landlord Malcolm Levesconte's inquest opened
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