The article discusses market pricing anomalies, noting that prices aren't typically "wrong" except during bubbly markets. The latest example involves U.S.-listed shares of SK Hynix, the Korean memory-chip maker that raised $26.51 billion last week selling American depositary receipts.

These ADRs have the same claim on earnings as Seoul-listed shares but can't yet be converted back and forth. Demand pushed the U.S. version to a nearly 50% premium to Korean shares, violating the "Law of One Price." This happens when sophisticated traders can't easily profit from differences and novice investors pile in.

The most famous example occurred a week before the tech bubble burst when Palm, maker of Palm Pilots, was partially sold by parent 3Com.