• Focuses on investment decisions in the presence of noisy market prices. Exposes students to market mispricing (i.e., deviations between prices and fundamental value) as an equilibrium feature of modern capital markets. Explains the practice of active investing, the relation between information flows and market pricing dynamics, and the roles of retail investors. Provides students with practical takeaways for investing, guided by leading research on cognitive constraints and behavioral biases, institutional frictions, quantitative stock selection, fundamental analysis, and the role of financial analysts.

• Textbook Information

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