Directors & Boards, December 22nd, 2007
AUGUST'S WHIPSAWING stock market should serve as an important reminder that, when it comes to financial markets, there is peril in letting your guard down.
Certainly the past five years have seen a relatively stable stock market. This "Great Moderation," as Federal Reserve Chairman Ben Bernanke has described this period, has been marked by steady stock market growth and reasonable, smooth corporate price/earnings ratios.
This time period has also been characterized by a marked decline in securities class-action lawsuits against companies and their directors and officers. Since the number o...
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