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Equities – is the bad news priced in?

By Prieur du Plessis, on February 8th, 2008 posted in: South Africa

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By Neels van Schaik

One thing that remains true is that financial markets are incredibly efficient at discounting investor expectations. This essentially means that asset prices move in advance of information that “Joe Soap” gets to hears about. It is a point well illustrated in the attached graph, which compares the year-on-year [...]

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