Readers seemed to enjoy my post about anomalies in the pricing of Citigroup securities, so I thought it would be fun to look at another anomaly, this time in the shares of Berkshire Hathaway, Warren Buffett’s famous company. This pricing anomaly is small compared to the Citigroup one. But it does raises some interesting questions [...]
Posts Tagged ‘Stock Market’
The Berkshire Anomaly
Posted in Finance, tagged Arbitrage, Berkshire Hathaway, Finance, Stock Market on May 30, 2009 | 3 Comments »
The Citigroup Anomaly
Posted in Finance, tagged Arbitrage, Banks, Citigroup, Finance, Stock Market, TARP on May 26, 2009 | 11 Comments »
Something is amiss in the market for Citigroup securities: prices are out-of-whack with standard arbitrage relationships. This suggests that (a) recent financial turmoil — or, perhaps, the policy responses to it — have undermined market efficiency and (b) some investors are over-paying.
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