The standard economic model is predicated on two broad assumptions: (1) market participants are rational and wealth-maximizing individuals and (2) asset prices reflect their underlying values and future return cannot be predicted from publicly available information. It follows that markets incorporate new information in asset prices in a timely fashion and without bias. However, a stream of empirical evidence over the last three decades finds that not only do firms stock prices diverge significantly from their fundamental values, but it also shows that expected returns can be predicted from...