In fact, some asset classes are quite efficient. In most of these: • the asset class is widely known and has a broad following; • the class is socially acceptable, not controversial or taboo; • the merits of the class are clear and comprehensible, at least on the surface ; and • information about the class and its components is distributed widely and evenly. If these conditions are met, there’s no reason why the asset class should systematically be overlooked, misunderstood or underrated.
