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Do Activists Beat the Market?

Harvard Corporate Governance

Posted by Mary Ann Deignan, Rich Thomas, and Kathryn Night, Lazard, on Tuesday, August 1, 2023 Editor's Note: Mary Ann Deignan is Head of Capital Markets Advisory, and Rich Thomas and Kathryn Night are Managing Directors in the Capital Markets Advisory group at Lazard. This post is based on a Lazard memorandum by Ms.

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Does the Market Misprice Companies’ “Strategic Alternatives” Announcements?

Reynolds Holding

In a new article, we explain how the market misprices the news so severely. Questioning the Status Quo The traditional theory of financial markets is the efficient market hypothesis (EMH), which holds that all news is factored into stock prices immediately and correctly, on average. We find no evidence for this possibility.

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ISS Discusses Largest Securities-Related Class Action Settlements of 2023

Reynolds Holding

The merger was allegedly orchestrated by prominent buyout firm 3G Capital Partners with a plan to extract $1.5 For years following the merger, 3G and Kraft purportedly touted these “synergies” to the market, reiterating that they were committed to sustainable cost-cutting and brand investment. billion in cost savings. state court.

Banking 59
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Data Update 1 for 2024: The data speaks, but what does it say?

Musings on Markets

Thus, looking at only the companies in the S&P 500 may give you more reliable data, with fewer missing observations, but your results will reflect what large market cap companies in any sector or industry do, rather than what is typical for that industry.

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AI's Winners, Losers and Wannabes: An NVIDIA Valuation, with the AI Boost!

Musings on Markets

The first is that my portfolio has held up well this year, in a market that has been top-heavy and tech-driven, and one big reason is that it contains both NVIDIA and Microsoft, two companies that have benefited from the AI story. Love-Hate Relationship with Markets! I will start this post with a couple of confessions.

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SEC Announces Enforcement Results for FY 2022

Reynolds Holding

percent increase over fiscal year 2021; 129 actions against issuers who were allegedly delinquent in making required filings with the SEC; and 169 “follow-on” administrative proceedings seeking to bar or suspend individuals from certain functions in the securities markets based on criminal convictions, civil injunctions, or other orders.