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« The poor are so called because they have less money | Main | Libor Isn't Working »

So much for the efficient markets hypothesis

MBIA reported its Q1s today. As the FT and Bloomberg both point out, the losses were more than twice what analysts expected - the company actually lost more in Q1 2008 than in the whole of 2007. And the shares are up 7%.
So either everyone who's buying MBIA today is acting irrationally, or none of the analysts who got polled knew what they were talking about. Or both!

Posted by Alexander Campbell on May 12, 2008 5:26 PM |

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