A non-random walk down Wall Street
by Andrew W. Lo
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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.
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| Edition | Availability |
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1
A non-random walk down Wall Street
2002, Princeton University Press
in English
0691092567 9780691092560
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2
A non-random walk down Wall Street
1999, Princeton University Press
in English
0691057745 9780691057743
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Book Details
Edition Notes
Originally published: 1999.
Includes bibliographical references (p. 395-415) and index.
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- Created October 21, 2008
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| October 8, 2020 | Edited by ImportBot | import existing book |
| July 31, 2020 | Edited by ImportBot | import existing book |
| June 24, 2020 | Edited by ImportBot | import existing book |
| May 19, 2020 | Edited by CoverBot | Added new cover |
| October 21, 2008 | Created by ImportBot | Imported from bcl_marc record |