Saturday, June 13, 2009

New Book: The Myth of the Rational Market

The Myth of the Rational Market: A history of Risk, Reward, and Delusion on Wall Street by Justin Fox (he of the recent Time Magazine piece on Stocks and bonds. .The following excerpts are from TheBigMoney.Spinning Math Into Gold: How academic debate transformed into Wall Street wealth. | The Big Money: ""In the 1970s, the war between random walkers—theorists who believed that stock prices

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