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Letter: Informed Investors Have Limited Ability to Push Prices to Efficiency
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Richard H. Serlin
Veröffentlicht/Copyright:
4. Oktober 2006
J. Bradford DeLong and Konstantin Magin's July, 2006 article gave several good reasons why "informed and aggressive" investors will not necessarily push prices all of the way to their fundamental levels, but missing was the fact that there may not be enough such investors given that none will rationally choose to be too aggressive and have too undiversified a portfolio, according to Richard Serlin.
Published Online: 2006-10-4
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Artikel in diesem Heft
- Letter
- Letter: What Will Stiglitz's Global Warming Remedy Really Cost?
- Letter: On Valuing Ecosystem Services
- Letter: Informed Investors Have Limited Ability to Push Prices to Efficiency
- Column
- The Discretion of Judges and Corporate Executives: An Insider's View of the Disney Case
- Why We Can Do Better than New Source Review
- American Inequality: From IT Bust to Big Government Boom
- Advance Disclosure of Managers' Stock Trades: A Proposal to Improve Executive Compensation
