The Heretics of Finance and over one million other books are available for Amazon Kindle. Learn more


or
Sign in to turn on 1-Click ordering.
or
Amazon Prime Free Trial required. Sign up when you check out. Learn More
Kindle Edition
 
   
Sell Back Your Copy
For a $1.20 Gift Card
Trade in
More Buying Choices
Have one to sell? Sell yours here
The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg)
 
 
Start reading The Heretics of Finance on your Kindle in under a minute.

Don't have a Kindle? Get your Kindle here, or download a FREE Kindle Reading App.

The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) [Hardcover]

Andrew W. Lo (Author), Jasmina Hasanhodzic (Author)
3.2 out of 5 stars  See all reviews (17 customer reviews)

List Price: $29.95
Price: $16.91 & eligible for FREE Super Saver Shipping on orders over $25. Details
You Save: $13.04 (44%)
  Special Offers Available
o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o o
In Stock.
Ships from and sold by Amazon.com. Gift-wrap available.
Only 6 left in stock--order soon (more on the way).
Want it delivered Tuesday, January 31? Choose One-Day Shipping at checkout. Details
Textbook Student FREE Two-Day Shipping for Students. Learn more

Formats

Amazon Price New from Used from
Kindle Edition $15.22  
Hardcover $16.91  

Book Description

1576603164 978-1576603161 January 7, 2009 1
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.


Special Offers and Product Promotions

  • Buy $50 in qualifying physical textbooks, get $5 in Amazon MP3 Credit. Here's how (restrictions apply)

Best Value

Buy The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) and get The Evolution of Technical Analysis: Financial Prediction from Babylonian Tablets to Bloomberg Terminals at an additional 5% off Amazon.com's everyday low price.

The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) + The Evolution of Technical Analysis: Financial Prediction from Babylonian Tablets to Bloomberg Terminals
Buy Together Today: $35.31

Show availability and shipping details



Editorial Reviews

Review

“Technical trading is ubiquitous in financial markets, which might explain some major financial-market anomalies and makes it an important topic for research. Like good scientists, Lo and Hasanhodzic explore this territory by gathering first-hand observations, with fascinating results.” —Carol Osler,
Program Director, Lemberg Masters in International Economics and Finance, Brandeis International Business School, Brandeis University


. . . a fascinating view of the art and craft of technical analysis.  For finance professionals and academics alike, this book is an excellent introduction to what technical analysts do and why it may make sense in modern markets. An enjoyable and very enlightening book.” —Maureen O’Hara , Robert W. Purcell Professor of Finance, The Johnson School, Cornell University    


"In the last twenty years, academics have piled up evidence on the puzzling success of technical analysis, yet few researchers are very familiar with the thinking of technicians.  Lo’s and Hasanhodzic’s interviews with well-known technicians illuminate their thinking on the markets and their profession. THE HERETICS OF FINANCE  is a must-read for economists studying technical analysis, behavioral finance, or related market anomalies. I recommend it highly.” —Christopher J. Neely, PhD


"Technical trading is ubiquitous in financial markets, which might explain some major financial-market anomalies and makes it an important topic for research. Like good scientists, Lo and Hasanhodzic explore this territory by gathering first-hand observations, with fascinating results." (Caroil Osler, Program Director, Brandeis University )

". . . a fascinating view of the art and craft of technical analysis. For finance professionals and academics alike, this book is an excellent introduction to what technical analysts do and why it may make sense in modern markets. An enjoyable and very enlightening book." (Maureen O'Hara, Cornell University )

"In the last twenty years, academics have piled up evidence on the puzzling success of technical analysis, yet few researchers are very familiar with the thinking of technicians. Lo's and Hasanhodzic's interviews with well-known technicians illuminate their thinking on the markets and their profession. THE HERETICS OF FINANCE is a must-read for economists studying technical analysis, behavioral finance, or related market anomalies. I recommend it highly." (Christopher J. Neely, PhD )

Review

“Technical trading is ubiquitous in financial markets, which might explain some major financial-market anomalies and makes it an important topic for research. Like good scientists, Lo and Hasanhodzic explore this territory by gathering first-hand observations, with fascinating results.”
—Carol Osler
Program Director, Lemberg Masters in International Economics and Finance
Brandeis International Business School, Brandeis University

The Heretics of Finance is a fascinating view of the art and craft of technical analysis.  For finance professionals and academics alike, this book is an excellent introduction to what technical analysts do and why it may make sense in modern markets. An enjoyable and very enlightening book.”
—Maureen O’Hara
Robert W. Purcell Professor of Finance
The Johnson School, Cornell University    

“In the last twenty years, academics have piled up evidence on the puzzling success of technical analysis, yet few researchers are very familiar with the thinking of technicians.  Lo’s and Hasanhodzic’s interviews with well-known technicians illuminate their thinking on the markets and their profession. The Heretics of Finance is a must-read for economists studying technical analysis, behavioral finance, or related market anomalies. I recommend it highly.”
—Christopher J. Neely, PhD
Assistant Vice President, Federal Reserve Bank of St. Louis

Product Details

  • Hardcover: 331 pages
  • Publisher: Bloomberg Press; 1 edition (January 7, 2009)
  • Language: English
  • ISBN-10: 1576603164
  • ISBN-13: 978-1576603161
  • Product Dimensions: 6.5 x 1.1 x 9.6 inches
  • Shipping Weight: 1.3 pounds (View shipping rates and policies)
  • Average Customer Review: 3.2 out of 5 stars  See all reviews (17 customer reviews)
  • Amazon Best Sellers Rank: #457,166 in Books (See Top 100 in Books)

More About the Authors

Discover books, learn about writers, read author blogs, and more.

 

Customer Reviews

17 Reviews
5 star:
 (4)
4 star:
 (3)
3 star:
 (3)
2 star:
 (6)
1 star:
 (1)
 
 
 
 
 
Average Customer Review
3.2 out of 5 stars (17 customer reviews)
 
 
 
 
Share your thoughts with other customers:
Most Helpful Customer Reviews

12 of 12 people found the following review helpful:
3.0 out of 5 stars It could have been so much more!, April 2, 2009
This review is from: The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) (Hardcover)
I can't help but feel that much more could have been done with and asked of the incredible pool of talent that the authors spoke to in putting this book together. While I can understand that coming up with a list of standard questions probably made it easier to write--it would have been so much more interesting for the reader had the questions been specific to the work each of these technicians does. Still, this book will be for many a wonderful introduction to the men and women who have been working in this field for several generations. Insights and experiences are shared--and if you are truly interested in technical analysis, as I am, and want to hear from some of the people who have forever changed the work we do--I don't see how you can resist buying this book.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


34 of 41 people found the following review helpful:
5.0 out of 5 stars Excellent read on how leading T/A practitioners think and what they believe, January 31, 2009
By 
Avid reader (CO United States) - See all my reviews
This review is from: The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) (Hardcover)
What a gem of a book, especially for a new or intermediate level investor who is looking for a broader perspective on the type of investment methods they might want to follow. There are no charts in the book, and only a few techniques or systems get described in any detail. This is a "why" book more than a "how to" book, although some of the analysts have written books on their techniques if you find something that lights a bulb for you.

The basic flow is a set of common questions asked of leading technical analysts, like John Murphy, Stan Weinstein, Bob Farrell, Paul Desmond and Ralph Alcampora (similar to the "Market Wizard's" books). The questions and the complete set of answers provides a rich look inside the thoughts and beliefs of some of the giants of technical analysis, like insights on why technical analysis is a study of market psychology as analyzed through the filter of supply and demand, that technical analysis is really the best way to "time" a trade, even if fundamental analysis is used to find better potential candidates, on how to increase the "signal to market noise" ratio to improve performance, and the critical differences between an analyst/investor and a trader, and how you better find out which suits your personality best if you hope to succeed in the markets.

Some of the questions take the analysts back to the start of their career to see how they found their way to becoming leading analysts, and why they made some of the choices that they did. For someone who wants to know "why" someone did what they did in the investing world, this is a great read. If you still think that fundamental analysis is the only way to analyze markets and that technical analysis is voodoo, this book will open your eyes.

Enjoy!

Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No


30 of 36 people found the following review helpful:
2.0 out of 5 stars Disappointing, February 15, 2009
This review is from: The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis (Bloomberg) (Hardcover)
I had hoped this book would be similar to "Market Wizards", or a more recent book like "Hedge Hunters". These books contained *interviews* with successful traders. Unfortunately this book doesn't really contain interviews, it's more like a single questionnaire that was sent out to a bunch of people, and this book collects all of their answers. It makes for pretty boring reading, because there's no conversation between interviewer and interviewee, no followup questions or any kind of reaction to the answers given.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Share your thoughts with other customers: Create your own review
 
 
 
Most Recent Customer Reviews











Only search this product's reviews



Inside This Book (learn more)
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
early signal detection, tools that accounts, share your inventions, applying technical analysis, new technical tools, future price moves, hull market, hear market, analysis distinct
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Market Technicians Association, Wall Street, Salomon Brothers, Smith Barney, Merrill Lynch, Michael Bloomberg, New York, Alan Shaw, International Federation of Technical Analysts, Stock Exchange, Decline Line
Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Search Inside This Book:


Tags Customers Associate with This Product

 (What's this?)
Click on a tag to find related items, discussions, and people.
 

Your tags: Add your first tag
 

Customer Discussions

This product's forum
Discussion Replies Latest Post
No discussions yet

Ask questions, Share opinions, Gain insight
Start a new discussion
Topic:
First post:
Prompts for sign-in
 


Active discussions in related forums
Search Customer Discussions
Search all Amazon discussions
   
Related forums





Look for Similar Items by Category


Look for Similar Items by Subject