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Letter: Informed Investors Have Limited Ability to Push Prices to Efficiency
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Richard H. Serlin
Published/Copyright:
October 4, 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
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Letter: What Will Stiglitz's Global Warming Remedy Really Cost?
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- Letter: Informed Investors Have Limited Ability to Push Prices to Efficiency
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- Why We Can Do Better than New Source Review
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