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Random Walk To Nowhere A How The Professors Caused A Real Fraud On The Market

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Random Walk To Nowhere A How The Professors Caused A Real Fraud On The Market

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Author : Edward E Williams
language : en
Publisher: World Scientific
Release Date : 2020-02-04

Random Walk To Nowhere A How The Professors Caused A Real Fraud On The Market written by Edward E Williams and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-04 with Business & Economics categories.

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.

A Random Walk To Nowhere

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Author : Edward E. Williams
language : en
Publisher: World Scientific
Release Date : 2020

A Random Walk To Nowhere written by Edward E. Williams and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Efficient market theory categories.

Preface -- Fraud, lies, and statistics -- The early history of modern financial economics -- The birth of the efficient market hypothesis -- Earlier views of market efficiency -- The impact of information and regulation on market efficiency -- Tests of the EMH -- Anomalies -- The capital asset pricing model -- Beyond the CAPM -- Conclusions -- References.

Sketch

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Author :
language : en
Publisher:
Release Date : 1897

Sketch written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1897 with categories.

Men S Health

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Author :
language : en
Publisher:
Release Date : 2008-04

Men S Health written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04 with categories.

Men's Health magazine contains daily tips and articles on fitness, nutrition, relationships, sex, career and lifestyle.

New York Magazine

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Author :
language : en
Publisher:
Release Date : 1982-02-22

New York Magazine written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982-02-22 with categories.

New York magazine was born in 1968 after a run as an insert of the New York Herald Tribune and quickly made a place for itself as the trusted resource for readers across the country. With award-winning writing and photography covering everything from politics and food to theater and fashion, the magazine's consistent mission has been to reflect back to its audience the energy and excitement of the city itself, while celebrating New York as both a place and an idea.

New York Magazine

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Author :
language : en
Publisher:
Release Date : 1982-01-25

New York Magazine written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982-01-25 with categories.

Mother Jones Magazine

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Author :
language : en
Publisher:
Release Date : 1988-11

Mother Jones Magazine written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-11 with categories.

Mother Jones is an award-winning national magazine widely respected for its groundbreaking investigative reporting and coverage of sustainability and environmental issues.