Book description
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. The debate is one of…
Why read it?
1 author picked Adaptive Markets as one of their favorite books. Why do they recommend it?
I also first met Andrew when I was a PhD student in the first course he taught at Wharton. I was fortunate to be his co-author decades later.
I can’t think of anyone else who is both so incredibly bright but also articulate and an engaging storyteller in so many areas. Lo’s book challenges the fundamental theory of market efficiency which suggests that security prices reflect all relevant information—in other words, that securities are always fairly priced.
Drawing on psychology, evolutionary biology, neuroscience, and artificial intelligence, he comes up with a convincing a new model, that he calls the Adaptive…
From Stephen's list on The best books on developing your investment philosophy.
If you love Adaptive Markets...
December on 5C4
Magical realism meets the magic of Christmas in this mix of Jewish, New Testament, and Santa stories–all reenacted in an urban psychiatric hospital!
On locked ward 5C4, Josh, a patient with many similarities to Jesus, is hospitalized concurrently with Nick, a patient with many similarities to Santa. The two argue…
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