Track 02
Any order5 cases · 3h 25m · Intro to intermediate
Price Discovery
The value exists before trading starts. Each case releases it differently — as private estimates, as earnings, as the odds on a deal — and the price has to assemble it.
The arc
- 140 min
The final value is fixed; each desk holds part of it.
- 240 min
The same question for a stock that has never traded.
- 340 min
Earnings arrive on a schedule; the multiple does the rest.
- 440 min
A deal's chance of closing moves the target.
- 545 min
RE1 Market efficiency and dividend information
Dividend news after each period, and some traders hear first.