A Non–Random Walk Down Wall Street
Autor Andrew W. Lo, A. Craig Mackinlayen Limba Engleză Paperback – 25 feb 2002
The articles track the exciting course of Lo and MacKinlay's research on the predictability of stock prices from their early work on rejecting random walks in short-horizon returns to their analysis of long-term memory in stock market prices. A particular highlight is their now-famous inquiry into the pitfalls of "data-snooping biases" that have arisen from the widespread use of the same historical databases for discovering anomalies and developing seemingly profitable investment strategies. This book invites scholars to reconsider the Random Walk Hypothesis, and, by carefully documenting the presence of predictable components in the stock market, also directs investment professionals toward superior long-term investment returns through disciplined active investment management.
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Specificații
ISBN-13: 9780691092560
ISBN-10: 0691092567
Pagini: 448
Ilustrații: 64 tables 2 line illus.
Dimensiuni: 154 x 232 x 33 mm
Greutate: 0.64 kg
Editura: Princeton University Press
Locul publicării:Princeton, United States
ISBN-10: 0691092567
Pagini: 448
Ilustrații: 64 tables 2 line illus.
Dimensiuni: 154 x 232 x 33 mm
Greutate: 0.64 kg
Editura: Princeton University Press
Locul publicării:Princeton, United States