About the effect of economic theory on capital markets …
It has been widely-publicized that Ben Bernanke, the new Federal Reserve Chairman, has strong views regarding the Federal Reserve Bank’s responsibility and ability to control inflation in the United States. […]
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| Filed under Government Officials, Economic Theory | No Comments »
The grim, grey editorial pages of the Wall Street Journal have become a field of glory, with flashing knives, slings and arrows, as famous academics battle to defend the besieged Efficient Market Hypothesis and the purity of Index Funds. […]
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| Filed under Fund Shares, Economic Theory, Fund Managers | No Comments »
The Efficient Market Hypothesis continues to impede understanding of how capital markets work. The front-page article in the WSJ of June 12, 2006, announcing record levels of stock buybacks, continued to promote a common misperception that stock repurchases enhance equity prices by the following mechanism: By reducing the number of shares outstanding through buybacks, earnings per share […]
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| Filed under Equities, Corporate Managers, Individual Investors, Economic Theory | No Comments »
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