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- W1936585562 abstract "Given standard, transparent assumptions, this paper questions the Wall Street adage that 'timing is everything'. I show that for an Arrow security, a 'small' risk-neutral trader with private information that is conditionally independent of the public information is exactly indifferent about the timing of his trade: His expected return per dollar invested is a martingale. This is true despite the fact that he expects the asset price itself to rise given favorable information and fall given unfavorable information." @default.
- W1936585562 created "2016-06-24" @default.
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- W1936585562 date "1996-01-01" @default.
- W1936585562 modified "2023-09-27" @default.
- W1936585562 title "On the irrelevance of trade timing" @default.
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