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A 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. Here Andrew W. Lo and A. C...
| Main Authors: | , |
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| Format: | Electronic eBook |
| Language: | Inglés |
| Published: |
Princeton :
Princeton University Press,
2002.
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| Series: | Book collections on Project MUSE.
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| Subjects: | |
| Online Access: | Texto completo |
| Summary: | 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. Here Andrew W. Lo and A. Craig MacKinlay put the Random Walk Hypothesis to the test. 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. Their book provides a sta. |
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| Item Description: | Appendix A6: Proof of Theorems. |
| Physical Description: | 1 online resource (448 pages): illustrations |
| ISBN: | 9781400829095 |