Information is definitely one of the most important elements in the financial market without any doubts. Analysis in the financial market is basically a process of accessing information and executing information and give weights to different sources of information.
In the financial market, the access to information is not the same to everyone; therefore, any participants have to use the information they have access to to analyse or estimate the information they do not have access to. In statistics, there are many methods for model selection corrections, that samples may not be selected randomly; similarly, in the financial market, the information that is not received is also not random. Participants have to use the information they already have to estimate the weights for their information and others' information. Moreover, information also has the likelihood to be wrong or inaccurate; therefore, participants may use the existing information to estimate the probability of their information being accurate.
Overall, although people may not know they are estimating the weight and probability of missing information, people executing the information hold in order to get more information from analysis.
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