Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
More Evidence Against The Random Walk Hypothesis
Download More Evidence Against The Random Walk Hypothesis full books in PDF, epub, and Kindle. Read online More Evidence Against The Random Walk Hypothesis ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis More Evidence Against the Random Walk Hypothesis by : Shunxin Jiang
Download or read book More Evidence Against the Random Walk Hypothesis written by Shunxin Jiang and published by World Scientific Publishing Company Incorporated. This book was released on 2015 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The book is useful and interesting reading for academics, professionals and students in finance." Zentralblatt MATH This volume provides more evidence against the Random Walk Hypothesis and offers insights into market inefficiency through systematically trading exchange-traded funds (ETFs). The book is organized to answer the following three questions: Do ETF prices follow random walks? If not, what are some of the factors that impact their non-random walk behavior? How can investors take advantage of such price dynamics in trading ETFs?
Book Synopsis A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Ninth Edition) by : Burton G. Malkiel
Download or read book A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing (Ninth Edition) written by Burton G. Malkiel and published by W. W. Norton & Company. This book was released on 2007-12-17 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updated with a new chapter that draws on behavioral finance, the field that studies the psychology of investment decisions, the bestselling guide to investing evaluates the full range of financial opportunities.
Book Synopsis Tests of Random Walk Hypothesis. Evidence from China by : Maximiliane Brecht
Download or read book Tests of Random Walk Hypothesis. Evidence from China written by Maximiliane Brecht and published by GRIN Verlag. This book was released on 2015-08-27 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2015 in the subject Economics - Finance, grade: 1.0, , course: Research Methodology and Dissertation, language: English, abstract: Until the 1970s empirical studies generally supported the prediction following from weak-form efficiency: prices cannot be predicted using past prices, and returns are serially uncorrelated. However inter alia Shiller, Fischer, and Friedman (1984) refuted the conclusion of economic insignificance in the case of negligible autocorrelations by modeling return processes with irrational bubbles where short-horizon returns are not significantly autocorrelated. Empirically, studies such as Lo and MacKinlay (1988) reject the random walk hypothesis (RWH) for US stocks using the more powerful variance ratio (VR) test. Similarly, RWH has also been tested for other markets with varying results. This report aims to examine the Chinese stock market as it stands out insofar that it is segmented by investor type 3 that face identical conditions otherwise. It also allows to observe consequences of loosening capital controls in terms of return-predictability. Empirical evidence so far has produced mixed results: for instance Long, Payne, and Feng (1999) do not find significant autocorrelation using a 100-week sample. On the other hand, Su and Fleisher (1999) reject the RWH when using daily data and for the market for foreign investors when using weekly data. Similarly, Darrat and Zhong (2000) find positive autocorrelation in the composite index using weekly data. Using daily data until 2000, the RWH is rejected again only for the market for foreigners, but not for locals. This work will build on empirical studies such as Long, Payne, and Feng (1999), concentrate on the VR test, and include observations following a policy reform in 2011 to test inter alia the hypothesis whether the market for foreigners became more efficient.
Book Synopsis A Non-Random Walk Down Wall Street by : Andrew W. Lo
Download or read book A Non-Random Walk Down Wall Street written by Andrew W. Lo and published by Princeton University Press. This book was released on 2011-11-14 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 components do exist in recent stock and bond returns. Their book provides a state-of-the-art account of the techniques for detecting predictabilities and evaluating their statistical and economic significance, and offers a tantalizing glimpse into the financial technologies of the future. 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.
Book Synopsis How Forecastable is Consumption Growth? New Evidence on the Hall Random-walk Hypothesis by : Alan D. Viard
Download or read book How Forecastable is Consumption Growth? New Evidence on the Hall Random-walk Hypothesis written by Alan D. Viard and published by . This book was released on 1996 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Efficient Market Theory and Evidence by : Andrew Ang
Download or read book The Efficient Market Theory and Evidence written by Andrew Ang and published by Now Publishers Inc. This book was released on 2011 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Efficient Market Hypothesis (EMH) asserts that, at all times, the price of a security reflects all available information about its fundamental value. The implication of the EMH for investors is that, to the extent that speculative trading is costly, speculation must be a loser's game. Hence, under the EMH, a passive strategy is bound eventually to beat a strategy that uses active management, where active management is characterized as trading that seeks to exploit mispriced assets relative to a risk-adjusted benchmark. The EMH has been refined over the past several decades to reflect the realism of the marketplace, including costly information, transactions costs, financing, agency costs, and other real-world frictions. The most recent expressions of the EMH thus allow a role for arbitrageurs in the market who may profit from their comparative advantages. These advantages may include specialized knowledge, lower trading costs, low management fees or agency costs, and a financing structure that allows the arbitrageur to undertake trades with long verification periods. The actions of these arbitrageurs cause liquid securities markets to be generally fairly efficient with respect to information, despite some notable anomalies.
Book Synopsis An Analysis of the Random Walk Hypothesis by : Taniya Kabaye
Download or read book An Analysis of the Random Walk Hypothesis written by Taniya Kabaye and published by . This book was released on 2014 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Statistics and Finance by : David Ruppert
Download or read book Statistics and Finance written by David Ruppert and published by Springer. This book was released on 2014-02-26 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book emphasizes the applications of statistics and probability to finance. The basics of these subjects are reviewed and more advanced topics in statistics, such as regression, ARMA and GARCH models, the bootstrap, and nonparametric regression using splines, are introduced as needed. The book covers the classical methods of finance and it introduces the newer area of behavioral finance. Applications and use of MATLAB and SAS software are stressed. The book will serve as a text in courses aimed at advanced undergraduates and masters students. Those in the finance industry can use it for self-study.
Book Synopsis Random Walk Guide To Investing by : Burton G Malkiel
Download or read book Random Walk Guide To Investing written by Burton G Malkiel and published by W. W. Norton & Company. This book was released on 2005-01-04 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction the the basics of investing presents ten rules designed to promote long-term financial success and security.
Download or read book Stopped Random Walks written by Allan Gut and published by Springer Science & Business Media. This book was released on 2009-04-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical probability theory provides information about random walks after a fixed number of steps. For applications, however, it is more natural to consider random walks evaluated after a random number of steps. Examples are sequential analysis, queuing theory, storage and inventory theory, insurance risk theory, reliability theory, and the theory of contours. Stopped Random Walks: Limit Theorems and Applications shows how this theory can be used to prove limit theorems for renewal counting processes, first passage time processes, and certain two-dimenstional random walks, and to how these results are useful in various applications. This second edition offers updated content and an outlook on further results, extensions and generalizations. A new chapter examines nonlinear renewal processes in order to present the analagous theory for perturbed random walks, modeled as a random walk plus "noise."
Book Synopsis The Random Walk Hypothesis Revisited by : Stephen W. Santi
Download or read book The Random Walk Hypothesis Revisited written by Stephen W. Santi and published by . This book was released on 1988 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Two-Dimensional Random Walk by : Serguei Popov
Download or read book Two-Dimensional Random Walk written by Serguei Popov and published by Cambridge University Press. This book was released on 2021-03-18 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A visual, intuitive introduction in the form of a tour with side-quests, using direct probabilistic insight rather than technical tools.
Book Synopsis The World of Economics by : John Eatwell
Download or read book The World of Economics written by John Eatwell and published by Springer. This book was released on 1991-05-13 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
Book Synopsis The Fractalist by : Benoit Mandelbrot
Download or read book The Fractalist written by Benoit Mandelbrot and published by Vintage. This book was released on 2014-01-14 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here is the remarkable life story of Benoit Mandelbrot, the creator of fractal geometry, and his unparalleled contributions to science mathematics, the financial world, and the arts. Mandelbrot recounts his early years in Warsaw and in Paris, where he was mentored by an eminent mathematician uncle, through his days evading the Nazis in occupied France, to his education at Caltech, Princeton, and MIT, and his illustrious career at the IBM Thomas J. Watson Research Center. An outside to mainstream scientific research, he managed to do what others had thought impossible: develop a new geometry that combines revelatory beauty with a radical way of unfolding formerly hidden scientific laws. In the process he was able to use geometry to solve fresh, real-world problems. With exuberance and an eloquent fluency, Benoit Mandelbrot recounts the high points of his fascinating life, offering us a glimpse into the evolution of his extraordinary mind. With full-color inserts and black-and-white photographs throughout.
Book Synopsis Efficiency and Anomalies in Stock Markets by : Wing-Keung Wong
Download or read book Efficiency and Anomalies in Stock Markets written by Wing-Keung Wong and published by Mdpi AG. This book was released on 2022-02-17 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Efficient Market Hypothesis believes that it is impossible for an investor to outperform the market because all available information is already built into stock prices. However, some anomalies could persist in stock markets while some other anomalies could appear, disappear and re-appear again without any warning. A Special Issue on "Efficiency and Anomalies in Stock Markets" will be devoted to advancements in the theoretical development of market efficiency and anomaly in the Stock Market, as well as applications in Stock Market efficiency and anomalies.
Book Synopsis Indian Stock Market by : O. P. Gupta
Download or read book Indian Stock Market written by O. P. Gupta and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Econometrics of Financial Markets by : John Y. Campbell
Download or read book The Econometrics of Financial Markets written by John Y. Campbell and published by Princeton University Press. This book was released on 2012-06-28 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory. Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications.
