Greetings Economists, On Mar 2, 2007, at 8:20 AM, Jim Devine wrote:
but serious owners of capital only look at _long term_ changes of each individual stock, relative to others. That's because they know (contrary to the academic theory of the efficient stock market) that stock price changes are notoriously flaky. They often don't reflect what the cappos care about, i.e., the fundamentals.
Doyle; quoting Yahoo; The selling of equities appears to have been triggered by a strengthening of the yen. A stronger yen puts pressure on global carry trades, because it makes it less attractive to sell the low-yielding Japanese currency to buy higher-yielding assets in other currencies. Doyle; I see this as a market fundamental being shifted to where? Doyle
