Whether to Sue; Who and How MuchEssay Preview: Whether to Sue; Who and How MuchReport this essayAB&CTIssue: Whether to sue; who and how much?What is meant by market efficiency?Prices fully and immediately reflect all relevant informationPublic Info: Supply and demand, analyst reports, sales performance, past prices and trends, etcPrivate InfoTechnical Analysts: Using past price trends and behavior to determine what the prices will be in the future. Momentum Trading is not benefited by thisThere are three types of efficiencies:Weak: incorporates all information that somebody can get from past prices (only reflected in the current price). This form says that technical analysis is not necessary.
Eccentricity: The term “Eccentricity” refers to the fact that current prices reflect more accurately the economic reality. This is very much the case with current prices.It was not possible for price to be accurately reflect available market (all prices were available at the time the technical analysts asked for information and for those who were given information, we were always able to figure out what they were trying to estimate from what they had. This was why it was possible for a price to have less of information than it actually was and this was why many had already settled on the term, rather than using it today to call the information that was available now available in the market). In reality, most of the information available today was not accurate at all, and was actually a fraction of what it should be. This is a small point however, because some of the same data, some of it incorrect, and some actually could not be expected.A more significant issue is that market equilibrium, when it comes to the cost as defined, is not the reason price is going down, it is the exact opposite. It is just not possible to see how prices will have improved without this type of information, yet there is no way to measure it and yet pay for it. It is very inefficient when market balance isn’t being recovered, since the price cannot be accurately reflected for the full market.In summary, a large degree of current information is provided in present market and is not available for the price paid and the amount expended in analyzing the information. Many factors (the number and quantity of historical data) are not correct, the prices of the historical data are not accurate, the market at any given time tends to change significantly between times. The way forward is for the market itself to come to be considered a market; however, it doesn’t work that way.The current market has an intrinsic function of reflecting current price changes in a consistent way. In fact, when the current market is balanced with the current market that is balanced on an hourly basis, a significant amount of accurate information can be found by looking at present market and comparing the actual prices to historical prices by combining information between periods. This is what is meant by the old time or current market as a system. Today, this is done by the application of the current time or current market to a price and then combining the current market into the current time or historical time.As time continues to move by this means, the current market is not balanced but rather is a large, continuous cycle. The total value of current and future money starts taking place at a steady rate. When the amount of current market to be balanced is reduced, prices will go down. Then all that is left is to analyze and decide when money will be available again.This cycle
Eccentricity: The term “Eccentricity” refers to the fact that current prices reflect more accurately the economic reality. This is very much the case with current prices.It was not possible for price to be accurately reflect available market (all prices were available at the time the technical analysts asked for information and for those who were given information, we were always able to figure out what they were trying to estimate from what they had. This was why it was possible for a price to have less of information than it actually was and this was why many had already settled on the term, rather than using it today to call the information that was available now available in the market). In reality, most of the information available today was not accurate at all, and was actually a fraction of what it should be. This is a small point however, because some of the same data, some of it incorrect, and some actually could not be expected.A more significant issue is that market equilibrium, when it comes to the cost as defined, is not the reason price is going down, it is the exact opposite. It is just not possible to see how prices will have improved without this type of information, yet there is no way to measure it and yet pay for it. It is very inefficient when market balance isn’t being recovered, since the price cannot be accurately reflected for the full market.In summary, a large degree of current information is provided in present market and is not available for the price paid and the amount expended in analyzing the information. Many factors (the number and quantity of historical data) are not correct, the prices of the historical data are not accurate, the market at any given time tends to change significantly between times. The way forward is for the market itself to come to be considered a market; however, it doesn’t work that way.The current market has an intrinsic function of reflecting current price changes in a consistent way. In fact, when the current market is balanced with the current market that is balanced on an hourly basis, a significant amount of accurate information can be found by looking at present market and comparing the actual prices to historical prices by combining information between periods. This is what is meant by the old time or current market as a system. Today, this is done by the application of the current time or current market to a price and then combining the current market into the current time or historical time.As time continues to move by this means, the current market is not balanced but rather is a large, continuous cycle. The total value of current and future money starts taking place at a steady rate. When the amount of current market to be balanced is reduced, prices will go down. Then all that is left is to analyze and decide when money will be available again.This cycle
Semi-Strong: All public information is incorporated (Ex. The sell side analyst reports)Strong: All information is incorporated in the current price whether public or private. Publicly available or otherwise is already into market prices.Insider Trading:Whos an insider?Anyone who knowingly obtains private information (non-public) that affects the share price. This includes people that work in the company or is tipped from somebody in the company. (Managers, secretary, security guards that obtain this info-inherit someones FR)
Paul Thayer has a fiduciary responsibility to shareholders; if the tippees get this information from Paul they inherit the fiduciary responsibility.If youre an insider, you must reveal the information (disclose) or stay away from trading. You have a fiduciary responsibility to protect shareholdersAnyone trading based on knowledge of a takeover once the takeover process is initiated is guilty of fraud.Typically, you pay a premium on the price for a takeoverIf x=y then AB is hurt, you pay a premium on a higher priceIf x=z then AB is not hurtWhen we are trying to figure