On Mar 2, 2007, at 11:20 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.
Eh? Who are these serious long-term investors? And with executive pay now mostly tied to stock prices, the boardroom gang follows every twitch of the stock market intensely. Doug
