Study finds secondary HF markets can predict future fund returns
| Jan 11th, 2010 | Filed under: Academic Research, Hedge Fund Industry Trends, Today's Post | By: Alpha Male |
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Efficient markets require that prices are totally unpredictable, that future returns are in no way predictable based on current trading activity.
While this may be true for highly liquid markets, there is now evidence that in illiquid markets, such as the secondary market for existing stakes in hedge funds, current buying and selling activity may have predictive power. More…
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