Refer to my response to your other comment. You seem to be assuming that the efficient market hypothesis holds in the philanthropic world; an assumption which is very far from holding for intelligible reasons (pervasive lack of vigilance on the part of donors)!
Refer to my response to your other comment. You seem to be assuming that the efficient market hypothesis holds in the philanthropic world; an assumption which is very far from holding for intelligible reasons (pervasive lack of vigilance on the part of donors)!