Yes, Stock Moves Are Correlated With CEOs Using Private Jets To Go On Vacation

David Yermack, a finance professor at New York University, has written a wonderful paper showing a correlation between the times CEOs take private jets to their vacation homes and movements in the company's stock. It is, perhaps, not surprising that CEOs go on vacation after announcing good news, and that they stay in the office when bad news is announced — propelling their stock up and down, respectively. But it is delicious to know the phenomenon is statistically significant in terms of stoc...