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recent bookmarks from jmSEC vs April Fool's Day2015-04-06T20:29:22+00:00
http://www.bloombergview.com/articles/2015-04-02/tesla-stockholders-can-t-take-a-joke
jmI think that materiality means what it says, and if people or algorithms do dumb things with trivial information that's their problem. But markets are a lot faster and more literal than they were when the materiality standard was created, and I wonder whether regulators or courts will one day decide that materiality is too reasonable a standard for modern markets. The materiality standard depends on the reasonable investor, and in many important contexts the reasonable investor has been replaced by a computer.
]]>algorithms trading stock stock-market sec materiality april-fools-day tesla investing jokeshttps://pinboard.in/https://pinboard.in/u:jm/b:f96edf4070bb/