Adaptive Markets: Financial Evolution at the Speed of Thought
| Author | : | |
| Rating | : | 4.62 (678 Votes) |
| Asin | : | B06X9R8Y2M |
| Format Type | : | |
| Number of Pages | : | 595 Pages |
| Publish Date | : | 2014-06-12 |
| Language | : | English |
DESCRIPTION:
More important, he also avoids being condescending or triumphalist."--Matthew Partridge, Money Week"Using research in evolutionary biology, psychology, neuroscience and artificial intelligence, Mr. Lo’s book will be read and read widely. In this important book, Lo of the Massachusetts Institute of Technology demonstrates the radical implications of this insight."--Martin Wolf, Financial Times"Adaptive Markets is a summation of developments in fields ranging from economics and behavioral finance to neuroscience and artificial intelligence--all influences on the adaptive markets hypothesis Lo proposes as a framework for finance that considers both rational and irrational behavior."--Institutional Investor
Lo is the Charles E. . and Susan T. Andrew W. He is the author of Hedge Funds and the coauthor of A Non-Random Walk Down Wall Street and The Econometrics of Financial Markets (all Princeton). He is also the founder of AlphaSimplex Group, a quantitative investment management company based in Cambridge, Massachusetts. Harris Professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering
Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications—including how hedge funds have become the Galápagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.. A new, evolutionary explanation of markets and investor behaviorHalf of all Am
A great book between mind and free market. A great book, very interesting about the new trends of the liberal market. The history of the free market, seen by a perspective of liberalism, begins in 1800 and the author talks particularly about Brownian motes and Hilbert spaces. It's a new mathematics which has success in this context and for example the fractals are a particular method explicans those situations. But the part most interesting is when Lo costructs a system related to the modern neurology and he refers it to the economics. The author shows as th. it is a great book to have if one simply want to use fareastman A very comprehensive narrative on the subject of finance and economics. Just about all topics related to economics have been covered with various depth. Though there is alot of evidence against the validity of Efficient Market Hypothesis (EMH), there has not been an alternative to replace it. I agree with the author that "it takes a theory to beat a theory". Adaptive market theory is the first attempt to do that. There is still alot to be desired as a theory, however. For example, the predictive power of this theory. Unbelievably Great Lo is the best - this book is his ground-breaking MIT work written for the general audience and is absolutely fabulous.