5 ms·
can anyone explain how accenture just went to a value of a penny even if it was momentary?
by jasonlbaptiste 17y ago
can anyone explain how accenture just went to a value of a penny even if it was momentary?
- jey 17y agoAs I understand it, all it takes is one share to have been sold at that price. Probably indicates someone having a "sell n shares at any price" order where n > buy orders at that moment..? Regardless of the details, this is an example of how markets aren't perfectly efficient.
- yan 17y agoI don't think anyone claims the markets are 'perfectly' efficient. Even the people that believe they are efficient and choose to participate argue that they are exploiting the inefficiencies.
- orblivion 17y agoFurthermore the real question is, could the market possibly be made more efficient if some "expert" were there deciding when a trade was a bad idea?
- WingForward 17y agoProbably.
- jey 17y ago[citation needed] "Experts" are overrated. The whole notion is fundamentally backward-looking. You might as well consult a historian.
- eru 17y agoShouldn't they be experts on both sides of all (or at least most) trades already?
- eru 17y ago> Regardless of the details, this is an example of how markets aren't perfectly efficient. No. Just that the last reported transaction may not be `true' price. There are other arguments against efficiency of markets, but this isn't.
- mnemonicsloth 17y agoPeople are talking about computer errors, but NYSE is saying no. According to the data I'm seeing for ACN now, the whole drop happened over a 1 minute period, and was back up the next minute.
- cschneid 17y agoBad ticks are fairly common, and in a very rapid market, I wouldn't be surprised that the penny didn't actually happen.