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- Good evening everybody, and thank you for joining me for my second Gresham College lecture on the psychology of finance. So what were going to look at today is Hidden Investment Opportunities. So these are opportunities that the stock market misses. So this will hopefully be a practical lecture looking at some information which is relevant for the valuations of companies but its mispriced by the stock market. And this follows on from last times lecture which was on the Psychology of Finance. So what we looked at last time, was that the stock market is not driven by fundamentals and rationality. Its driven by emotion. So people overreact to certain bits of information and they under-react to other bits of information and what you might think that was interesting, you might think its also a bit confusing, because last time, if we say that, the stock market overreacts to somethings, but underreacts to other things, then, well, how do we know what its overreacting to, or under-