Chapter008 INVESTMENT英语教学提纲.pptVIP

Efficient Markets The Behavioral Critique;Efficient Market Hypothesis (EMH);Random Walk - stock prices are random Expected price is positive over time Positive trend and random about the trend;Why are price changes random? Prices react to information Flow of information is random Therefore, price changes are random;EMH and Competition;Figure 8-1 Cumulative Abnormal Returns Surrounding Takeover Attempts;Figure 8-2 Returns Following Earnings Announcements;Forms of the EMH;例：杭萧钢构（天价合同）;Types of Stock Analysis;Active Management Security analysis Timing Passive Management Buy and Hold Index Funds;