A non-random walk down Wall Street
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Author
Contributions
- MacKinlay, Archie Craig, 1955- - Contributor
Publication
1999 - Princeton University Press, Princeton, N.J, New Jersey
Language
English
Word Count
106,000 words, Guess
Page Count
424 pages
Identifiers
- Open LibraryOL370654M
- ISBN-100691057745
- OCLC Control Number98031390
- OCLC Control Number39914227
- OCLC Control Numbernonrandomwalkdow00loan_1
and 3 more
- Library of Congress Control Number98031390
- LibraryThing293978
- Goodreads2308036
Classifications
- DDC332.63/222
- LCCHG4915 .L6 1999
Description
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 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.
Subjects
Other Editions
- A non-random walk down Wall Street
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