Jung and Shiller have an interesting paper that looks at Samuelson’s dictum: that is that the market is more efficient pricing individual stocks than getting the overall price level (i.e. the market) correct. In English it means that while we can price stocks relative to one another reasonably well, we can not price the overall market as well. [FinanceProfessor Annotation]
Content: Article
Authors: Jeeman Jung, Robert J. Shiller
Source: Social Science Research Network (SSRN)
Subjects: Economics, Finance
Industry: Investment Banking
Authors: Jeeman Jung, Robert J. Shiller
Source: Social Science Research Network (SSRN)
Subjects: Economics, Finance
Industry: Investment Banking
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