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An earnings surprise: Multiple Choice usually precedes a negative drift downward in a firms stock price. means that some bias must exist since unbiased means
An earnings surprise:
Multiple Choice
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usually precedes a negative drift downward in a firms stock price.
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means that some bias must exist since unbiased means that the markets earnings expectations will be correct.
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occurs when earnings deviate from investors expectations.
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demonstrates the inherent inefficiency of securities markets.
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