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Prof. Yakov Amihud on the effects of liquidity on assets

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Excerpt from Moneylife -- "'When there is rain, umbrellas become expensive. But when there is no rain, nobody cares about the umbrella and the prices are low. The case of Liquidity is similar', says Professor Yakov Amihud, Ira Rennert Professor of Entrepreneurial Finance at the Stern School of Business, New York University."

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