The Money Game |
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Página 127
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 thesis maintains there is no order.
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 thesis maintains there is no order.
Página 132
Fifty-fifty either way. "If the 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.
Fifty-fifty either way. "If the 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.
Página 133
It is a cold, austere world, the world of the random walk, and a negative one. The
random walkers do believe in the intrinsic value of a stock, but they have not
much help for us on that because a stock only sells for its intrinsic value —
whatever ...
It is a cold, austere world, the world of the random walk, and a negative one. The
random walkers do believe in the intrinsic value of a stock, but they have not
much help for us on that because a stock only sells for its intrinsic value —
whatever ...
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Contenido
Mister Johnsons Reading List the dominant note of our time is unreality | 21 |
Can Ink Blots Tell You Whether You Are the Type Who Will Make a Lot of Money in the Market? | 35 |
Is the Market Really a Crowd? | 42 |
Derechos de autor | |
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