More from Finance News
- Desautels Faculty of Management
- mgmt_fac https://www.mcgill.ca/desautels
- Desautels research
- desautels_research https://www.mcgill.ca/desautels
- Investment + Risk Management
- Investment and Risk Management Expert Panel
- Jan Ericsson
- Kenneth Lester
- Laurent Barras
- Matthieu Bouvard
- Patrick Augustin
- Reuven Brenner
- Sujata Madan
- Vihang Errunza
Harvard Business Review. Cuando las personas creen que son atractivas consideran que tienen una clase social más alta y su percepción hacia la desigualdad es más favorable, señala un estudio.
Bullish options bets on Hillshire Brands Co. stand to deliver millions of dollars in profits to one or more traders who correctly wagered in recent weeks that the company's stock would surge.
If investors needed another reason to distrust the stock market, here’s a doozy. A study by a trio of researchers in the U.S. and Canada into insider trading found that one-quarter of the big merger and acquisition (M&A) deals over a 15-year period—roughly 460 transactions in total—may have seen people profiting on information before it was public.
Insider trading is a topic of intense public debate these days, but this debate must be framed in the context of a clear, objective definition of informed versus insider trading.
Ofter als gedacht wird illegal ve rsucht, vertrauliche Kenntnisse an der Borse zu versilbern.
You have heard about the “seismic”, “shocking” and “bombshell” results from last month’s vote in Europe for the EU parliament. Many traditional, centrist parties lost ground and in France and in the UK, anti-EU parties (the Front National and UKIP respectively) received the most votes (around 25% in each case).
There is often a tip. Before many big mergers and acquisitions, word leaks out to select investors who seek to covertly trade on the information. Stocks and options move in unusual ways that aren’t immediately clear. Then news of the deals crosses the ticker, surprising everyone except for those already in the know. Sometimes the investor is found out and is prosecuted, sometimes not.
Two Groundbreaking Academic Mergers & Acquisitions Studies Win IRRC Institute Investor Research Award at Millstein Governance Forum
Two academic research papers that promise to spark new scrutiny of corporate actions such as mergers and acquisitions have won the prestigious Investor Responsibility Research Center Institute (IRRCi) annual investor research competition that focuses on the interaction of the real economy with investment theory. The winning research teams will be presented with a $10,000 award for each paper:
Ever since France's defeat in 1870-1 in the Franco-Prussian war, when military strength was identified with numerical superiority, demography, language and culture have become permanent parts of, and, at times, the focus of French politics.
Authors: Augustin, Patrick; Tedongap, Romeo
Publication: Journal of Financial and Quantitative Analysis
Warren Buffett and Tech Stocks: Why Doesn't the Oracle's 'Common Joe' Portfolio Include Apple or Google?
With Mr. Buffett's annual celebration last weekend and some grumbling about his failure to beat the market in four of the last five years, people keep reminding me of a piece I wrote in 1996 for Dow Jones about Buffett's portfolio.
... Reuven Brenner holds the Repap Chair at McGill's Desautels Faculty of Management, serves on the Board of McGill's Pension Fund, and is a member of its investment committee. Brenner's last book is World of Chance (2008).
“And so, my fellow Americans, ask not what your country can do for you; ask what you can do for your country,” is the saying now famously associated with John F. Kennedy, though Oliver Wendell Holmes said it eight decades before.
This same statement is the precise recipe for the survival and success of family businesses too, though as far as I know, nobody put it quite this way: “And, so, my dear relatives, ask not what the business can do you for you; ask what you can do for the business.”
Demographic changes and increased mobility of people and ideas are posing significant challenges for global commerce, with even emerging economies struggling to match capital with talent. But, in spite of the glacial pace at which the West is adapting to the new realities, there may be cause for cautious optimism.
-Article by Reuven Brenner
Read full article: Quantum, April 2014
Along Highway 401 and over the Ontario border, Tyler Maxey and some of his MBA classmates at McGill University's Desautels Faculty of Management in Montreal are also learning by doing. Their modus operandi: investing other people's money. Since 2008, students have been running a registered fund management firm called Desautels Capital Management that has about $3 million in assets.
Milton Friedman, in his book Money Mischief, reported the well-known story of the monetary system of a small island in Micronesia. At the end of the 19th century, the inhabitants used stone wheels as a medium of exchange and as a store of wealth. The colonial government imposed "fees" on disobedient district chiefs by painting black crosses on these stone wheels, thus "confiscating" them. This induced the locals to change their ways and work harder, paving roads they were previously reluctant to pave, in order to have these marks erased and get their wealth back.