MFin-4 2023 class notes

BOOTH: MFin 4310-4 2023 Equity Valuation DCF valuation Rational valuation Bigger fool theory/speculative bubbles
BOOTH: MFin 4310-4 2023 Bigger Fool: Momentum & Speculation Classical Economics Speculation is stabilising Prices go above fundamentals and speculators short the stock to bring it down Prices are too low, speculators buy to move the price up Markets are efficient (more later)! Keynesians (and earlier theorists) Speculators destabilise prices as they are concerned with short run profits Momentum is a short run phenomena Long run over reaction
BOOTH: MFin 4310-4 2023
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