摘要
流言是遵循逻辑性原则的中性概念,它是伴随着证券市场而存在的。与流言的源头相比,流言的传播、市场信念,以及流言对交易行为的影响更为重要。流言在很短的时间内就会传遍整个市场,且不会产生系统性的价格趋势。市场上不存在基于流言的使投资者获得超额利润的投资策略。
Rumors can be everywhere,at any time,at any place.The market belief in rumor,its spread and its effects on the security markets are more important compared to its source.The price movement is an indicator of the belief of investors and is an expression of the reaction of the market as a whole.Rumors spread very quickly.As rumors evolve,it will not cause systematic price patterns,so trading on rumors is not profitable.
出处
《金融理论与实践》
北大核心
2010年第11期32-35,共4页
Financial Theory and Practice
基金
2010年教育部人文社会科学研究青年基金项目
关键词
流言
证券市场
股价异动
Rumors
Security Market
Price Movement
