What are some of the forces?
One is volume of trading. When I first got to Wall Street in the early 1960s, 3 million shares a day was a huge day. Now it’s 6, 7, 8
billion shares. Another [factor] is that everybody knows everything today because all they have to do is go to a Bloomberg terminal and punch it out. And the SEC has said that if you’re a publicly listed company and give anybody information that might be useful, you must make a diligent effort to be sure everybody in your investment group gets the same information at the same time.