The Philology of Frontier Equity Markets
The frequent absence of reliable data and the ubiquitous presence of ambiguous sources exposes frontier markets more to the perils of ‘journalistic gossip’ and complacent thinking than more mature equity markets. In many cases, the sources of opinion-molding statements and conclusions are not investment professionals, but the financial newswires and their following. To understand the relationship between stock market philology and stock market valuation, a short excursion into the anatomy of market opinion formation is useful.
KeywordsHedge Fund Share Price Free Cash Flow Investment Analysis Currency Devaluation
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