Money, Credit and Asset Prices
Author | : G. Pepper |
Publisher | : Springer |
Total Pages | : 318 |
Release | : 1994-03-08 |
ISBN-10 | : 9780230375932 |
ISBN-13 | : 0230375936 |
Rating | : 4/5 (936 Downloads) |
Download or read book Money, Credit and Asset Prices written by G. Pepper and published by Springer. This book was released on 1994-03-08 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'For amateurs and professionals alike wishing to deepen their understanding of the often mysterious and counter-intuitive fluctuations in asset prices, this book provides essential reading.' - Barry Riley, Financial Times 'Really required reading.' - Anthony Harris, Times 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. Drawing on his hands-on experience, Professor Pepper puts forward a new theory based on the analysis of the supply of and demand for investible funds. He shows clearly that price movements are governed not by news but by the financial requirements of investors, requirements which therefore become a powerful forecasting tool.