By Jeff Miller:
Can you beat the market?
If you think so, you must not believe in the efficient market hypothesis. Join Warren Buffett, who has famously stated that he would be standing on a corner selling pencils from a tin cup if markets were efficient.
Most people who actively manage accounts – their own or others – believe they can add some edge. This might be either through returns or risk control, but it must include more than just blindly following the market.