Lo andrew (778 Ergebnisse)

- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 4,05
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: Good. The Heretics of Finance provides extraordinary insight into both the art of technical analysis and the character of the successful trader. Distinguished MIT professor Andrew W. Lo and researcher Jasmina Hasahodzic interviewed thirteen highly successful, award-winning market professionals who credit their substantial achievements to technical analysis. The result is the story of technical analysis in the words of the people who know it best; the lively and candid interviews with these gurus of technical analysis. The first half of the book focuses on the technicians' careers: How and why they learned technical analysis What market conditions increase their chances of making mistakes What their average workday is like To what extent trading controls their lives Whether they work on their own or with a team How their style of technical analysis is unique> The second half concentrates on technical analysis and addresses questions such as these: Did the lack of validation by academics ever cause you to doubt technical analysis? Can technical analysis be applied to other disciplines? How do you prove the validity of the method? How has computer software influenced the craft? What is the role of luck in technical analysis? Are there laws that underlie market action? What traits characterize a highly successful trader? How do you test patterns before you start using them with real money? Interviewees include: Ralph J. Acampora, Laszlo Birinyi, Walter Deemer, Paul Desmond, Gail Dudack, Robert J. Farrell, Ian McAvity, John Murphy, Robert Prechter, Linda Raschke, Alan R. Shaw, Anthony Tabell, Stan Weinstein.…

- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,05
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: Very Good. The Heretics of Finance provides extraordinary insight into both the art of technical analysis and the character of the successful trader. Distinguished MIT professor Andrew W. Lo and researcher Jasmina Hasahodzic interviewed thirteen highly successful, award-winning market professionals who credit their substantial achievements to technical analysis. The result is the story of technical analysis in the words of the people who know it best; the lively and candid interviews with these gurus of technical analysis. The first half of the book focuses on the technicians' careers: How and why they learned technical analysis What market conditions increase their chances of making mistakes What their average workday is like To what extent trading controls their lives Whether they work on their own or with a team How their style of technical analysis is unique> The second half concentrates on technical analysis and addresses questions such as these: Did the lack of validation by academics ever cause you to doubt technical analysis? Can technical analysis be applied to other disciplines? How do you prove the validity of the method? How has computer software influenced the craft? What is the role of luck in technical analysis? Are there laws that underlie market action? What traits characterize a highly successful trader? How do you test patterns before you start using them with real money? Interviewees include: Ralph J. Acampora, Laszlo Birinyi, Walter Deemer, Paul Desmond, Gail Dudack, Robert J. Farrell, Ian McAvity, John Murphy, Robert Prechter, Linda Raschke, Alan R. Shaw, Anthony Tabell, Stan Weinstein.…

- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 4,05
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. Sally is going to the groomer! Lovable pup Sally is looking a little shaggy, so her owners are taking her to the groomer. It smells like a garden and Sally sees brushes and bows galore. Then it's time for a bath. Once she's squeaky clean and blow-dried, Sally gets brushed, snipped and clipped. When her owners arrive--surprise!--everyone has fancy new hairdos. Lo, Dawn (illustrator). …

- Hardcover
Anbieter: Zoom Books East, Glendale Heights, IL, USAZoom Books East
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 4,06
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: good. Book is in good condition and may include underlining highlighting and minimal wear. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service.

- Hardcover
Anbieter: Zoom Books East, Glendale Heights, IL, USAZoom Books East
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,06
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: very_good. Book is in very good condition and may include minimal underlining highlighting. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service. Lo, Dawn (illustrator).

- Hardcover
Anbieter: Zoom Books Company, Lynden, WA, USAZoom Books Company
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,06
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: very_good. Book is in very good condition and may include minimal underlining highlighting. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service. Lo, Dawn (illustrator).

Sprache: Englisch
Verlag: Orca Book Publishers, 2023
- Hardcover
Anbieter: Your Online Bookstore, Houston, TX, USAYour Online Bookstore
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Wie neu
EUR 4,60
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
hardcover. Zustand: As New. Lo, Dawn (illustrator).

Sprache: Englisch
Verlag: Orca Book Publishers, 2023
- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 4,60
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. Key Selling Points The book shows how sometimes learning is not easy and that's okay. The teacher demonstrates warmth and encouragement for the new learners. Puppies are cute and relatable, sharing many similarities with children, such as curiosity, energy and playfulness. Puppy school is in many ways like preschool. Readers will relate to the experiences of starting a new school, trying to train a puppy, or both! Andrew Larsen has two children and a puppy named Sally. He was inspired by his experiences with puppy school and wrote most of this book while out walking Sally. The adorable illustrations include a rabbit hidden in most spreads for a search and find activity. Lo, Dawn (illustrator). …

- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 4,67
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. 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 Galapagos 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. …

- Hardcover
Anbieter: World of Books (was SecondSale), Montgomery, IL, USAWorld of Books (was SecondSale)
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,67
Versand gratisVersand innerhalb von USAAnzahl: 2 verfügbar
Hardback. Zustand: Very Good. A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. 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 Galapagos 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.…

- Hardcover
Anbieter: Books for Life, LAUREL, MD, USABooks for Life
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,68
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: very_good. Book is in very good condition. Clean with little to no signs of wear or markings highlights.

- Hardcover
Anbieter: Zoom Books Company, Lynden, WA, USAZoom Books Company
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,68
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: very_good. Book is in very good condition and may include minimal underlining highlighting. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service.

- Hardcover
Anbieter: Zoom Books East, Glendale Heights, IL, USAZoom Books East
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 4,85
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: very_good. Book is in very good condition and may include minimal underlining highlighting. The book can also include "From the library of" labels. May not contain miscellaneous items toys, dvds, etc. . We offer 100% money back guarantee and 24 7 customer service. Lo, Dawn (illustrator).

- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Befriedigend
EUR 5,89
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: Good. The Heretics of Finance provides extraordinary insight into both the art of technical analysis and the character of the successful trader. Distinguished MIT professor Andrew W. Lo and researcher Jasmina Hasahodzic interviewed thirteen highly successful, award-winning market professionals who credit their substantial achievements to technical analysis. The result is the story of technical analysis in the words of the people who know it best; the lively and candid interviews with these gurus of technical analysis. The first half of the book focuses on the technicians' careers: How and why they learned technical analysis What market conditions increase their chances of making mistakes What their average workday is like To what extent trading controls their lives Whether they work on their own or with a team How their style of technical analysis is unique> The second half concentrates on technical analysis and addresses questions such as these: Did the lack of validation by academics ever cause you to doubt technical analysis? Can technical analysis be applied to other disciplines? How do you prove the validity of the method? How has computer software influenced the craft? What is the role of luck in technical analysis? Are there laws that underlie market action? What traits characterize a highly successful trader? How do you test patterns before you start using them with real money? Interviewees include: Ralph J. Acampora, Laszlo Birinyi, Walter Deemer, Paul Desmond, Gail Dudack, Robert J. Farrell, Ian McAvity, John Murphy, Robert Prechter, Linda Raschke, Alan R. Shaw, Anthony Tabell, Stan Weinstein.…

- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Befriedigend
EUR 5,89
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. Sally is going to the groomer! Lovable pup Sally is looking a little shaggy, so her owners are taking her to the groomer. It smells like a garden and Sally sees brushes and bows galore. Then it's time for a bath. Once she's squeaky clean and blow-dried, Sally gets brushed, snipped and clipped. When her owners arrive--surprise!--everyone has fancy new hairdos. Lo, Dawn (illustrator). …

- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Gut
EUR 5,89
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Zustand: Very Good. The Heretics of Finance provides extraordinary insight into both the art of technical analysis and the character of the successful trader. Distinguished MIT professor Andrew W. Lo and researcher Jasmina Hasahodzic interviewed thirteen highly successful, award-winning market professionals who credit their substantial achievements to technical analysis. The result is the story of technical analysis in the words of the people who know it best; the lively and candid interviews with these gurus of technical analysis. The first half of the book focuses on the technicians' careers: How and why they learned technical analysis What market conditions increase their chances of making mistakes What their average workday is like To what extent trading controls their lives Whether they work on their own or with a team How their style of technical analysis is unique> The second half concentrates on technical analysis and addresses questions such as these: Did the lack of validation by academics ever cause you to doubt technical analysis? Can technical analysis be applied to other disciplines? How do you prove the validity of the method? How has computer software influenced the craft? What is the role of luck in technical analysis? Are there laws that underlie market action? What traits characterize a highly successful trader? How do you test patterns before you start using them with real money? Interviewees include: Ralph J. Acampora, Laszlo Birinyi, Walter Deemer, Paul Desmond, Gail Dudack, Robert J. Farrell, Ian McAvity, John Murphy, Robert Prechter, Linda Raschke, Alan R. Shaw, Anthony Tabell, Stan Weinstein.…

Sprache: Englisch
Verlag: Orca Book Publishers, 2023
- Hardcover
Anbieter: ThriftBooks-Dallas, Dallas, TX, USAThriftBooks-Dallas
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Wie neu
EUR 6,09
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: As New. No Jacket. Pages are clean and are not marred by notes or folds of any kind. ~ ThriftBooks: Read More, Spend Less. Lo, Dawn (illustrator).

- Hardcover
Anbieter: ThriftBooks-Reno, Reno, NV, USAThriftBooks-Reno
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Good. No Jacket. Pages can have notes/highlighting. Spine may show signs of wear. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Reno, Reno, NV, USAThriftBooks-Reno
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Ausreichend
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Fair. No Jacket. Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Phoenix, Phoenix, AZ, USAThriftBooks-Phoenix
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Very Good. No Jacket. May have limited writing in cover pages. Pages are unmarked. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Reno, Reno, NV, USAThriftBooks-Reno
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Very Good. No Jacket. May have limited writing in cover pages. Pages are unmarked. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Dallas, Dallas, TX, USAThriftBooks-Dallas
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Very Good. No Jacket. May have limited writing in cover pages. Pages are unmarked. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Kaufen Sie 4 Artikel, und erhalten Sie 10 % Rabattvon diesem VerkäuferAnbieter: ThriftBooks-Atlanta, AUSTELL, GA, USAThriftBooks-Atlanta
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Gut
EUR 6,39
Versand gratisVersand innerhalb von USAAnzahl: 2 verfügbar
Hardcover. Zustand: Very Good. No Jacket. May have limited writing in cover pages. Pages are unmarked. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Kaufen Sie 4 Artikel, und erhalten Sie 10 % Rabattvon diesem VerkäuferAnbieter: ThriftBooks-Atlanta, AUSTELL, GA, USAThriftBooks-Atlanta
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Ausreichend
EUR 6,42
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Fair. No Jacket. Former library book; Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Dallas, Dallas, TX, USAThriftBooks-Dallas
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Ausreichend
EUR 6,42
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Fair. No Jacket. Former library book; Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Kaufen Sie 4 Artikel, und erhalten Sie 10 % Rabattvon diesem VerkäuferAnbieter: ThriftBooks-Atlanta, AUSTELL, GA, USAThriftBooks-Atlanta
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Ausreichend
EUR 6,42
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Fair. No Jacket. Readable copy. Pages may have considerable notes/highlighting. ~ ThriftBooks: Read More, Spend Less.

- Hardcover
Anbieter: ThriftBooks-Dallas, Dallas, TX, USAThriftBooks-Dallas
Verkäufer/-in kontaktierenVerkäufer/-in mit 5 SternenZustand: Gebraucht - Befriedigend
EUR 6,42
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardcover. Zustand: Good. No Jacket. Pages can have notes/highlighting. Spine may show signs of wear. ~ ThriftBooks: Read More, Spend Less.

Sprache: Englisch
Verlag: Orca Book Publishers, 2023
- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Befriedigend
EUR 6,44
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. Key Selling Points The book shows how sometimes learning is not easy and that's okay. The teacher demonstrates warmth and encouragement for the new learners. Puppies are cute and relatable, sharing many similarities with children, such as curiosity, energy and playfulness. Puppy school is in many ways like preschool. Readers will relate to the experiences of starting a new school, trying to train a puppy, or both! Andrew Larsen has two children and a puppy named Sally. He was inspired by his experiences with puppy school and wrote most of this book while out walking Sally. The adorable illustrations include a rabbit hidden in most spreads for a search and find activity. Lo, Dawn (illustrator). …

- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Gut
EUR 6,51
Versand gratisVersand innerhalb von USAAnzahl: 2 verfügbar
Hardback. Zustand: Very Good. A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. 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 Galapagos 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.…

- Hardcover
Anbieter: World of Books Inc, Montgomery, IL, USAWorld of Books Inc
Verkäufer/-in kontaktierenVerkäufer/-in mit 4 SternenZustand: Gebraucht - Befriedigend
EUR 6,51
Versand gratisVersand innerhalb von USAAnzahl: 1 verfügbar
Hardback. Zustand: Good. A new, evolutionary explanation of markets and investor behavior Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. 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 Galapagos 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. …