Non-Random Walk Down Wall Street
For over half a century, financial experts have regarded the movements of markets as a random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this hypothesis has become a cornerstone of modern financial economics and many investment strategies. Craig… Celý popis ↓
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Non-Random Walk Down Wall Street
For over half a century, financial experts have regarded the movements of markets as a random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this hypothesis has become a cornerstone of modern financial economics and many investment strategies. Craig MacKinlay put the Random Walk Hypothesis to the test. Here Andrew W. Lo and A.
Their book provides a state-of-the-art account of the techniques for detecting predictabilities and evaluating their statistical and economic significance, and offers a tantalizing glimpse into the financial technologies of the future.The articles track the exciting course of Lo and MacKinlay's research on the In this volume, which elegantly integrates their most important articles, Lo and MacKinlay find that markets are not completely random after all, and that predictable components do exist in recent stock and bond returns.
Parametre
- Výrobca
- Princeton University Press
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