Thursday, November 24, 2011


"Conventional capital market theory is based on a linear view of the world, one in which investors have rational expecations; they adjust immediately to information about the markets and behave as if they know precisely how the structure of the economy works.  Markets are highly efficient, but not perfectly so.  Inefficiencies are inherent in the economy or in the structure of markets themselves...We believe inefficiencies in markets can be exploited through a combination of trend detection and risk management."

John W. Henry