A non-random walk down Wall Street
Abstract
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...
Paper Details
Title
A non-random walk down Wall Street
Published Date
Dec 1, 1999
Journal
Volume
37
Issue
04
Pages
37 - 2272
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Notes
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