ohai

janakisri Wrote:
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> Mentally I just simplify it for myself .
> Smoothed means mistaken , not-in-sync with real
> prices , needs correction or volatility
> injection.
> Unsmoothed means corrected , with more
> representative prices , hence returns. Corrects
> appraisal data returns and dispersion numbers.

I get that, Totally. I get it...


But why are they calling one "unsmoothed" and the other "uncorrected" and the "uncorrected" which IS DIFFERENT FROM UNSMOOTHED, is the one with the bias...implying uncorrected=smoothed, when to me, uncorrected would mean unsmoothed...


My question is no longer what is smoothing, it is why the question is phrased that way...is it errata and they should say "corrected"?