Ibbotson professes to be surprised that a clear-cut liquidity anomaly exists. After all, hedge funds hire mathematicians to plumb data to uncover arbitrage opportunities, which in theory should ...

Liquidity premium demands higher returns for assets harder to sell quickly at fair prices. Investors might accept lower yields on liquid assets than illiquid ones, impacting pricing. Understanding ...

Public markets offer potentially healthy opportunities for excess returns (alpha) given structural inefficiencies and macroeconomic volatility driven by divergent global growth and inflation paths.