More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient, even in the United States. It does mean that there is more access for savvy investors who watch the money flows.

Books
Dynamics of the Hedge Fund Industry ISBN 0-943205-72-7
Hedge Funds: An Analytic Perspective 2008. He is the author of several academic articles in Finance and Financial economics. PubliAndrew Lod by Bloomberg Press.

in Economics from Harvard University (1984). He is a leading authority on hedge funds and financial engineering; he proposed the Adaptive market hypothesis. in Economics from Yale University (1980) and a Ph.