<Embed>

As an alternative, the Kindle eBook is available now and can be read on any device with the free Kindle app.
Have one to sell?
Loading your book clubs
There was a problem loading your book clubs. Please try again.
Not in a club? Learn more
Amazon book clubs early access

Join or create book clubs

Choose books together

Track your books
Bring your club to Amazon Book Clubs, start a new book club and invite your friends to join, or find a club that’s right for you for free.
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more

Follow the Author

Something went wrong. Please try your request again later.


A Non-Random Walk Down Wall Street Hardcover – January 31, 1999

4.1 out of 5 stars 16 ratings

See all formats and editions Hide other formats and editions
Price
New from Used from
Kindle
Hardcover
$63.32
$60.00 $32.91

The Amazon Book Review
The Amazon Book Review
Book recommendations, author interviews, editors' picks, and more. Read it now.
click to open popover

Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.

  • Apple
    Apple
  • Android
    Android
  • Windows Phone
    Windows Phone
  • Click here to download from Amazon appstore
    Android

To get the free app, enter your mobile phone number.

kcpAppSendButton

Special offers and product promotions

Editorial Reviews

Review

"This book is highly recommended to academic and private-sector economists who are interested in understanding better the behavior of financial market returns."―Lars Peter Hansen, University of Chicago

"This provocative collection of essays provides careful empirical analyses of the major anomalies that have appeared in financial markets in the thirty-five years since Paul Cootner's influential Random Character of Stock Market Prices. It provides convincing evidence against the random walk as applied to stock markets, and at the same time warns us of the dangers of finding spurious anomalies. It is a worthy successor to Cootner's classic."―Michael Brennan, University of California, Los Angeles

"With all its equations, this book is going to turn out to be a classic text in the theory of finance. But it is also one for practitioners."---Diane Coyle, The Independent

"The common feature of this work . . . is that it is guided by simple economic intuitions while simultaneously being econometrically rigorous and careful."―Bruce N. Lehmann, UC-San Diego

"What Andrew W. Lo and A. Craig MacKinlay impressively do . . . [is look] for hard statistical evidence of predictable patterns in stock prices. . . . Here they marshal the most sophisticated techniques of financial theory to show that the market is not completely random after all."---Jim Holt, Wall Street Journal

"Where are today's exploitable anomalies? Lo and MacKinlay argue that fast computers, chewing on newly available, tick-by-tick feeds of market-transaction data, can detect regularities in stock prices that would have been invisible as recently as five years ago. One example: 'clientele bias,' in which certain stocks are popular with investors who have certain trading styles. A case in point that doesn't take a supercomputer to detect, is day traders' current enthusiasm for Internet stocks. Lo says that day traders tend to overreact to news--whether that news is positive or negative--so it should be possible to profit by taking the opposite side of their trades."---Peter Coy, Business Week

From the Inside Flap

"This provocative collection of essays provides careful empirical analyses of the major anomalies that have appeared in financial markets in the thirty-five years since Paul Cootner's influential Random Character of Stock Market Prices. It provides convincing evidence against the random walk as applied to stock markets, and at the same time warns us of the dangers of finding spurious anomalies. It is a worthy successor to Cootner's classic."--Michael Brennan, University of California, Los Angeles

"This book is highly recommended to academic and private-sector economists who are interested in understanding better the behavior of financial market returns."--Lars Peter Hansen, University of Chicago

"The common feature of this work . . . is that it is guided by simple economic intuitions while simultaneously being econometrically rigorous and careful."--Bruce N. Lehmann, UC-San Diego


Product details

  • Item Weight : 1.75 pounds
  • Hardcover : 448 pages
  • ISBN-10 : 0691057745
  • ISBN-13 : 978-0691057743
  • Product Dimensions : 1 x 6 x 9.5 inches
  • Language: : English
  • Publisher : Princeton University Press (January 31, 1999)
  • Customer Reviews:
    4.1 out of 5 stars 16 ratings

How would you rate your experience shopping for books on Amazon today

Customer reviews

4.1 out of 5 stars
4.1 out of 5
16 global ratings
How are ratings calculated?

Top reviews from the United States

Reviewed in the United States on January 8, 2008
Verified Purchase
15 people found this helpful
Comment Report abuse
Reviewed in the United States on August 22, 2002
Verified Purchase
25 people found this helpful
Comment Report abuse
Reviewed in the United States on August 29, 2017
Verified Purchase
Reviewed in the United States on January 14, 2015
Verified Purchase
One person found this helpful
Comment Report abuse
Reviewed in the United States on June 7, 2001
141 people found this helpful
Comment Report abuse
Reviewed in the United States on April 9, 2000
137 people found this helpful
Comment Report abuse
Reviewed in the United States on October 6, 2011
8 people found this helpful
Comment Report abuse
Reviewed in the United States on September 8, 2000
21 people found this helpful
Comment Report abuse

Top reviews from other countries

Amazon Customer
5.0 out of 5 stars Five Stars
Reviewed in the United Kingdom on July 1, 2016
Verified Purchase
CorMag
5.0 out of 5 stars Lesen!!!!
Reviewed in Germany on November 17, 2008
Verified Purchase
4 people found this helpful
Report abuse