"Encyclopedic in its cataloging of active management strategies and authoritative in its analysis of the practical issues of their implementation."—Martin S. Fridson, Financial Analysts Journal"This valuable and intriguing book provides a contemporary survey of investments across a wide spectrum of asset classes and strategies. Combining a wonderful narrative with a rigorous analytical structure, Efficiently Inefficient serves the needs of students, serious investors, and professionals."—Gary P. Brinson, CFA, GP Brinson Investments"For a book on investments, Efficiently Inefficient sets a completely different and higher standard."—Darrell Duffie, Stanford University"Efficiently Inefficient is a truly modern and masterful introduction to how finance will be studied and practiced in the twenty-first century."—Andrei Shleifer, Harvard University"A tour-de-force combination of original research and provocative interviews with hedge fund managers."—Laurence B. Siegel, CFA Institute Research Foundation