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Andrew W. Lo, Adaptive Markets: Financial Evolution at the Speed of Thought

Journal of Economic and Social Thought

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Title Andrew W. Lo, Adaptive Markets: Financial Evolution at the Speed of Thought
 
Creator CARSON, Scott Alan;

University of Texas, Permian Basin

4901 East University Boulevard

Odessa, Texas  97961
 
Subject Financial economics; Adaptive markets; Stock market.
B26; C58; D53; G00; G12.
 
Description Abstract. In 1973, Burton Malkiel published A Random Walk Down Wall Street, unquestionably the best-selling book in financial economics written for the popular press. Prior to its publication, it was common among the general public and financial market practitioners to advocate trading strategies that generated super-normal returns for various asset classes.  Malkiel synthesized the prevailing academic research that indicated stock returns followed a random-walk, a statistical process that indicates information and events are random, and it is random information announcements behind stock return variation.   Keywords. Financial economics, Adaptive markets, Stock market.JEL. B26, C58, D53, G00, G12.
 
Publisher Journal of Economic and Social Thought
Journal of Economic and Social Thought
 
Contributor —
 
Date 2019-07-13
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEST/article/view/1896
10.1453/jest.v6i2.1896
 
Source Journal of Economic and Social Thought; Vol 6, No 2 (2019): June; 128-131
Journal of Economic and Social Thought; Vol 6, No 2 (2019): June; 128-131
2149-0422
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEST/article/view/1896/1891
 
Rights Copyright (c) 2019 Journal of Economic and Social Thought
http://creativecommons.org/licenses/by-nc/4.0