Efficiently Inefficient

“Pedersen’s book can be recommended to a wide spectrum of readers interested in financial markets in general and hedge funds in particular.”–Jacek Klich, Central Banking “Encyclopedic in its cataloguing of active management strategies and authoritative in its analysis of the practical issues of their implementation. Pedersen grounds his exposition in landmark scholarly articles and, where quantitative analysis is required to elucidate a concept, conveys his message without resorting to arcane mathematics.”–Martin S. Fridson, Financial Analysts Journal “Despite the author’s high level of understanding he manages to deliver a high quality but also easily understandable guide to the strategies.”–Mats Larsson, Investing by the Books

Lasse Heje Pedersen is a finance professor at Copenhagen Business School and New York University’s Stern School of Business, and a principal at AQR Capital Management. A distinguished financial economist, he has won a number of awards, notably the Bernacer Prize, awarded to European economists under forty who have made outstanding contributions in macroeconomics and finance.