Beating the foreign exchange market

Article Abstract:

Filter rule profits related to investments on foreign exchange markets continue after the managed float period ends. This study utilizes risk-return tradeoffs and the Sharpe-Lintner capital asset pricing model to analyze data provided by the Federal Reserve System. Results indicate that most markets showed inefficiency signs during the first 1,830 days following the float period that was generalized managed beginning in March 1973. There is no explanation for the excessive speculative returns, other than a continuing inefficiency in these markets.

Research, Investments, Foreign exchange, Currency options, Capital market, Capital markets

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A note on noise in the market for bankrupt firms' securities

Article Abstract:

A model used to determine the impact of absolute priority rule (APR) violations on security price noise is introduced. A group of researchers call for the prohibition of APR violations because of their tendency to increase uncertainty to the process of security valuation. However, another group favors APR violations to minimize inefficient liquidations. Results show that APR violations significantly increase noise and failure to consider their impact can result in a suboptimal design.

Analysis, Evaluation, Securities, Markets (Economics), Bankruptcy

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