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Wednesday, May 2, 2012

Marché ouvert

Strange concept:

"In general, the sale of stolen goods does not convey effective title. However, under 'marché ouvert', if goods were openly sold in designated markets between sunset and sunrise, provenance could not be questioned and effective title of ownership was obtained. The law originated centuries ago when people did not travel; if the victim of a theft did not bother to look in his local market on market day—the only place where the goods were likely to be—he was not being suitably diligent."

Posted by CP at 12:04 AM

2 comments:

Nexuiz said...

Any views on CHK? I'm wondering whether you think it's still a screaming buy? It's down quite a bit today. Thx

May 2, 2012 at 10:27 AM
CP said...

Yes. Since I am a value investor, I like it more at a lower price (since nothing fundamental has changed), as opposed to momentum investors who would like it less.

May 3, 2012 at 3:29 PM

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