Market Liquidity
Market Liquidity The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. The…
Specifikacia Market Liquidity
Market Liquidity
The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. The authors start from the assumption that not everyone is present at all times simultaneously on the market, and that even the limited number of participants who are have quite diverse information about the security's fundamentals. Market Liquidity offers a more accurate and authoritative take on liquidity and price discovery.
Thus a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors.This book takes As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders.
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