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Letter: Informed Investors Have Limited Ability to Push Prices to Efficiency

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Author Info
Richard Serlin (University of Arizona)
Abstract

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.

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File URL: http://www.bepress.com/cgi/viewcontent.cgi?article=1216&context=ev
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Publisher Info
Article provided by Berkeley Electronic Press in its journal The Economists' Voice.

Volume (Year): 3 (2006)
Issue (Month): 8 ()
Pages: 3
Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Handle: RePEc:bep:evoice:3:2006:8:3

Note: oai:bepress:ev-1216
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Web page: http://www.bepress.com

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords: market efficiency

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This page was last updated on 2008-11-20.

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