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A Non-Random Walk Down Wall Street

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A Non-Random Walk Down Wall Street

About this title: 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 ... read more

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