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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...
| Auteurs principaux: | , |
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| Format: | Électronique eBook |
| Langue: | Inglés |
| Publié: |
Princeton :
Princeton University Press,
2002.
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| Collection: | Book collections on Project MUSE.
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| Sujets: | |
| Accès en ligne: | Texto completo |
| Résumé: | 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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| Description: | Appendix A6: Proof of Theorems. |
| Description matérielle: | 1 online resource (448 pages): illustrations |
| ISBN: | 9781400829095 |