Re: Extropian Investing questions

Max More (
Mon, 15 Sep 1997 16:20:43 -0700

At 12:42 PM 9/15/97 -0700, Ray wrote:
>The phenomenon you mention is exactly why stocks tend to rise after they
>split: the split causes greater liquidity.

I doubt this. The increase in liquidity seems to me insufficient to explain
the extent of the common rise in price. However, I admit I don't have any
hard evidence.

A more plausible explanation for the post-split rise in stock price, it
seems to me, is that investors see the split as a sign of management's
confidence in future earnings.


Max More, Ph.D.
President, Extropy Institute:,