I 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.
On 3/2/07, Doug Henwood <[EMAIL PROTECTED]> wrote:
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.
I was thinking not about the operating capitalists (top managers) but
the rentiers and hedge-fund groupies. The boardroom gang, if they're
in this group, have diversified portfolios.
--
Jim Devine / "The truth is more important than the facts." -- Frank Lloyd Wright
