| Peter Klein |
An open letter to Gene Fama and Ken French from Henry Manne (also running today at Truth on the Market):
Dear Gene and Ken:
I must say that I was totally flabbergasted when I read your recent blog posting on insider trading. I know that your usual posts on investments, which I often cite to friends, are well-informed and empirically supported; your work over the years on these topics is important and influential — and rightly so. Unfortunately, in this post, you have deviated from your usual high quality. Anyone current on the topic of insider trading will recognize that you have been careless in your selection of anti-insider-trading arguments and that you omitted from your brief note the major part of the argument about insider trading: whether and how much it contributes to market efficiency. To say this is a strange omission coming from…
View original post 1,003 more words
Utopia, you are standing in it! 
Recent Comments