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Unformatted text preview: Strong form: • Even private information (all information) is already impounded into prices • Why do we need efficiency: o Competition • “Insider”: o Corporate manager o Anyone who obtains information from an insider becomes an insider o Insiders must either abstain from trading that particular stock...
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This note was uploaded on 06/11/2011 for the course BUSI 408 taught by Professor Croce during the Spring '08 term at UNC.
- Spring '08
- Corporate Finance