Prof. Charles Lee: Market Efficiency & The Financial Crisis

Charles Lee, professor of accounting at the Stanford Graduate School of Business, highlights the limitations of market efficiency. He says that while we have to look for the "wisdom of crowds" we must also see that there can be the "madness of the crowd" as well. During financial crises, a lot of emotion dominates, just as it does during a financial boom.

From Stanford Business magazine: http://www.gsb.stanford.edu/news/bmag

Category:

Education

Tags:

• market
• accounting
• Stanford
• GSB