The Money Game"This is a modern classic." —Paul A. Samuelson, First American Nobel Prize Winner in Economics "The best book there is about the stock market and all that goes with it." —The New York Times Book Review "Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy of The Money Game and read it with due diligence." —Book World " 'Adam Smith' is a veteran observer and commentator on the events and people of Wall Street.... His thorough knowledge of financial affairs gives his observations a great degree of authenticity. But the joy of reading this book comes from his delightful sense of humor. He is a lively and ingeniously witty writer who never stoops to acerbity. None of the solemn, sacred cows of Wall Street escapes debunking." —Library Journal |
From inside the book
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Page 127
Adam Smith. IS A RANDOM WALK ? Charting is as old as papyrus ; the " random - walk ” thesis has ancient origins but , properly worked out , is as new as computers . Charting seeks to find some order in what has happened ; the random - walk ...
Adam Smith. IS A RANDOM WALK ? Charting is as old as papyrus ; the " random - walk ” thesis has ancient origins but , properly worked out , is as new as computers . Charting seeks to find some order in what has happened ; the random - walk ...
Page 132
... random - walk model is a valid description of reality , " says Professor Fama , " the work of the chartist , like that of the astrologer , is of no real value . ” The random - walk fellows seem particularly out to get the Chartists . As ...
... random - walk model is a valid description of reality , " says Professor Fama , " the work of the chartist , like that of the astrologer , is of no real value . ” The random - walk fellows seem particularly out to get the Chartists . As ...
Page 133
... random walk , because that would make what they were doing meaningless , and no one wants to feel that a dartboard selection will do as well as one with effort . As for the analysts , they will feel the random walk is irrelevant because ...
... random walk , because that would make what they were doing meaningless , and no one wants to feel that a dartboard selection will do as well as one with effort . As for the analysts , they will feel the random walk is irrelevant because ...
Contents
Preface to the Vintage Edition | 1 |
IDENTITY ANXIETY MONEY | 9 |
Was I Dumb Was I Dumb Kick | 59 |
Copyright | |
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Adam Smith adding machine Airlines Albert says American anyway asked bank bear market believe bought broker CALIFORNIA/SANTA CRUZ called capital cents Charley says chart Chartists cocoa couple crowd CRUZ The University Digital Datawhack earnings feel fifty fund managers Gnome of Zurich goes going gold growth gunslingers happened Harry's hedge fund HOFSTATDER hundred idea investment investors Irwin Jack Dreyfus Keynes Library UNIVERSITY look lunch marketplace Marvin million dollars Mister Johnson Money Game Motorola move never numbers pany paper percent play players Polaroid Poor Grenville portfolio manager problems profits psychiatrist puter random random-walk Robert Scarsdale security analysts sell Sidney silver smart sold Solitron speculators stock market talk tell thing thousand tion trade Treasury trying Uncle Harry UNIVERSITY OF CALIFORNIA/SANTA walk Wall Street Winfield Xerox York Stock Exchange