Interview With Andrew Lo: Masters in Business (Audio)
Masters in Business
00:00
The Challenger Explosion and the Reaction
The day the challenger exploded provided evidence that prices rapidly reflect all available information. Morton Thea Call was halted for trading 13 minutes after the challenger exploded, even though it was one of four potential culprits. It closed the day down 12%, no evidence of insider trading. All the other companies had massive unrelated businesses to the challenger.
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