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I should be able to print this.

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THE INTERFACE BETWEEN CORPORATE AND INVESTMENT

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I found this information to be turly helpful for both research and understanding of the recent stockmarket issues currantly happening.

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Shefrin makes a selective presentation of the evidences, and draws conclusions based upon singular events that reflect inefficiency.
Example 1: He's proud of his behaviorist colleague Bob
Schiller for predicting the irrationality of the dot-com-bubble stock prices, but he can blame practitioners for "gambler's fallacy"/reversion to the mean when they opined the same (at the same point in time)
Example 2: Shefrin argues market inefficiency is well spread in stocks, bonds, interest rates (wonder why he's not in an island on the pacific), and also that CEOs are prone to suffer 'Hubris', and seek perks on 'Empire Building' management practices, but to back it up he goes to the market correction's on the announcements (i.e.: market is not that inefficient)
Example 3: Shefrin argues that overconfidence and optimism are common in society, but at the same time blames society of myopic loss aversion (based on ERP) ... I would say that (based on statistical averages of risk premiums: ERP) you can disagree with society ONLY about one side of the story: either markets are overconfident or loss averse, but not both. Because blaming of both would be an assumption that markets are indeed quite good at finding equilibrium (most of the time).
Lastly, I missed information or references to macroeconomic factors (e.g. how negative interest rates could indeed affect the ERP and the valuation multiples), and also found disappointing, and quite primitive the use of information and charts. Log scale >> arithmetic scale for long nominal series. Also, in half of the charts we are missing information about the second variable. i.e.. He tries to compare two variables, but only one is drawn in the chart.
Summarizing, this book is aimed to practitioners, my opinion is that practitioners are overconfident and too optimist if they expect a positive opportunity cost from the book. I think that Malkiel (random walk down Wall St) does a much better job addressing the behavioral biases. And he's not the only one.
 

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