Writing shorter code/algorithms, is more efficient (performance)?

Question

After coming across the code golf trivia around the site it is obvious people try to find ways to write code and algorithms as short as the possibly can in terms of characters,

Answer 1

I don't believe that Code Golf has any practical significance. In practice, readable code is what counts. Which in itself is a conflicting requirement: readable code should be concise, but still easy to understood.

However, I would like to answer your question yet differently. Usually, there are fast and simple algorithms. However, if the speed is top priority, things can get complex real fast (and the resulting code will be longer). I don't believe that simplicity equals speed.