Name: Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market
Price: 245.70 NZD
Availability: InStock
Author: Williams, Edward E. ; Dobelman, John A.
ISBN: 9789811207785

portada Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market

Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market

Type

Physical Book

Author

Edward E. Williams

John A. Dobelman

Publisher

World Scientific Publishing Company

Language

English

Pages

196

Format

Hardcover

ISBN13

9789811207785

Synopsis "Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market"

This book is about an intellectual fraud, one that has become part of legal doctrine that has greatly influenced decisions all the way up to the United States Supreme Court. The 'efficient market hypothesis' (EMH), born from the Random Walk theory, started out as an honest attempt to improve insights into how financial markets work, but eventually became almost a religion that every financial economist had to buy into, or risk professional crucifixion. The EMH began over a half century ago. It posits that share prices reflect all available market information, and that it is impossible to consistently outperform the market. This theory dominated research in the academic financial community from the outset, and has continued to do so for decades. Meanwhile, the evidence for above-average profit-making opportunities in the markets has been unfairly suppressed.Written for practitioners in the business, finance and legal industries, this book outlines the major issues that gave rise to the fraud, focusing on the role of statistics in the rise of what the authors call the 'New Finance.' It details the developments and results of the exclusion of other theories from efficient markets research and highlights the problems arising from a dogmatic adherence to EMH.

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Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market - Williams, Edward E. ; Dobelman, John A.

Synopsis "Random Walk to Nowhere, A: How the Professors Caused a Real Fraud-On-The-Market"

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