Summary:
The book explores how professional investors, such as hedge funds and investment banks, utilize various strategies to achieve returns, blending academic insights with real-world trading practices. It delves into the mechanics of different asset markets, the roles of liquidity and risk, and how regulatory and technological changes impact investment strategies and market efficiency.
Key points:
1. Efficiently Inefficient Markets: Markets are efficient enough to make beating them tough but still have inefficiencies that skilled investors can profit from. Their trading helps keep the market efficient.
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