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Loonies Under Your Bed: Misdirected Attention and the Diluted Value of Stock Market Reports

Lupia, Arthur et al.
Munich Personal RePEc Archive · Reports
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Many people pay attention to media reports of the US stock market’s performance. Using a data-based thought experiment, we cast the market’s recent highs and lows in an unusually unattractive light. The result matters because the economic and political factors that make it relevant are likely to con
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