Some of the best investment returns can come from market inefficiencies. An inefficient market is one where the price of a stock is below its true value - It's like the stock is selling at a discount! 

Certain special situations in markets produce inefficiencies. Warren Buffett and other big investors have often taken advantage of these special situations. Special situations don't come up too often, but when they do, they provide opportunities for great returns. In this episode we discuss special situations including illiquidity, information asymmetry, forced selling, investing in smaller markets, and investing in companies with little analyst coverage. These are all special situations that various big investors have used to get an advantage and generate great returns. Listen to this episode to learn more.