[OPE] Kliman, 'Value and Crisis: Bichler & Nitzan versus Marx'

Data on the annual average earnings per share may not be all that
meaningful, if we want to understand the profits made from the stock market.
The reason is, that a very large chunk of shares is owned by corporations
who trade very large volumes of shares very rapidly, and may hold the shares
for much less than one year. The share price and the dividend paid out are
obviously related, as Kliman's graph indicates, but for the purpose of the
arbitrage trade nowadays the main thing required for profit is simply a
significant fluctuation in relative prices.

Jurriaan

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Received on Mon Feb 7 05:00:22 2011