According to mainstream economic theory, the prices of individual stocks respond rationally to unexpected news. However, real market movements appear to respond to news in more complex and sometimes perverse ways, overshooting or not reacting at all. Professor Pepper puts forward a new theory based on the analysis of the supply of and demand for investible funds. He shows that price movements are governed not by news but by financial requirements of investors, requirements which therefore become a powerful forecasting tool.
- ISBN10 033358581X
- ISBN13 9780333585818
- Publish Date 8 March 1994
- Publish Status Out of Print
- Out of Print 14 June 2005
- Publish Country GB
- Imprint Palgrave Macmillan
- Format Hardcover
- Pages 328
- Language English