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Author: Vijay Singal
Publisher: Financial Management Association Survey and Synthesis Series
ISBN: 0195304225
Category : Business & Economics
Languages : en
Pages : 369
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Book Description
In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Singal points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. Here he discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit.
Author: Vijay Singal
Publisher: Financial Management Association Survey and Synthesis Series
ISBN: 0195304225
Category : Business & Economics
Languages : en
Pages : 369
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Book Description
In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Singal points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. Here he discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit.
Author: Massimo Cencini
Publisher: Springer Nature
ISBN: 3030725316
Category : Science
Languages : en
Pages : 220
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Book Description
This book offers an informal, easy-to-understand account of topics in modern physics and mathematics. The focus is, in particular, on statistical mechanics, soft matter, probability, chaos, complexity, and models, as well as their interplay. The book features 28 key entries and it is carefully structured so as to allow readers to pursue different paths that reflect their interests and priorities, thereby avoiding an excessively systematic presentation that might stifle interest. While the majority of the entries concern specific topics and arguments, some relate to important protagonists of science, highlighting and explaining their contributions. Advanced mathematics is avoided, and formulas are introduced in only a few cases. The book is a user-friendly tool that nevertheless avoids scientific compromise. It is of interest to all who seek a better grasp of the world that surrounds us and of the ideas that have changed our perceptions.
Author: Mark A. Johnson
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
A lucid, witty, and intelligent guide to modern investment theory, the evidence for and against it, and how to translate theory into practical investment strategies. Explains the ``Random Walk'' or the Efficient Market Hypothesis and shows what it means, where it is true, where it is not -- and how investors can take advantage of the areas in which it is not true to earn greater profits without increased risk. Examines concepts of value, how the numbers can lie, diversification, market risk, out-of-favor stocks, little stocks and market timing. Forbes columnist Kenneth Fisher wrote of Johnson's book: ``Indispensable for those wanting to bypass Wall Street's most common dead ends.''
Author: Andrew W. Lo
Publisher: Princeton University Press
ISBN: 1400829097
Category : Business & Economics
Languages : en
Pages : 449
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Book Description
For over half a century, financial experts have regarded the movements of markets as a random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this hypothesis has become a cornerstone of modern financial economics and many investment strategies. Here Andrew W. Lo and A. Craig MacKinlay put the Random Walk Hypothesis to the test. In this volume, which elegantly integrates their most important articles, Lo and MacKinlay find that markets are not completely random after all, and that predictable components do exist in recent stock and bond returns. Their book provides a state-of-the-art account of the techniques for detecting predictabilities and evaluating their statistical and economic significance, and offers a tantalizing glimpse into the financial technologies of the future. The articles track the exciting course of Lo and MacKinlay's research on the predictability of stock prices from their early work on rejecting random walks in short-horizon returns to their analysis of long-term memory in stock market prices. A particular highlight is their now-famous inquiry into the pitfalls of "data-snooping biases" that have arisen from the widespread use of the same historical databases for discovering anomalies and developing seemingly profitable investment strategies. This book invites scholars to reconsider the Random Walk Hypothesis, and, by carefully documenting the presence of predictable components in the stock market, also directs investment professionals toward superior long-term investment returns through disciplined active investment management.
Author: Elroy Dimson
Publisher: CUP Archive
ISBN: 9780521341042
Category : Business & Economics
Languages : en
Pages : 328
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Book Description
Author: David N. Dreman
Publisher: Warner Books (NY)
ISBN: 9780446970716
Category : Investment analysis
Languages : en
Pages : 306
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Book Description
Author: Yves Benoist
Publisher: Springer
ISBN: 3319477218
Category : Mathematics
Languages : en
Pages : 319
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Book Description
The classical theory of random walks describes the asymptotic behavior of sums of independent identically distributed random real variables. This book explains the generalization of this theory to products of independent identically distributed random matrices with real coefficients. Under the assumption that the action of the matrices is semisimple – or, equivalently, that the Zariski closure of the group generated by these matrices is reductive - and under suitable moment assumptions, it is shown that the norm of the products of such random matrices satisfies a number of classical probabilistic laws. This book includes necessary background on the theory of reductive algebraic groups, probability theory and operator theory, thereby providing a modern introduction to the topic.
Author: Mikhail Menshikov
Publisher: Cambridge University Press
ISBN: 1316867366
Category : Mathematics
Languages : en
Pages : 385
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Book Description
Stochastic systems provide powerful abstract models for a variety of important real-life applications: for example, power supply, traffic flow, data transmission. They (and the real systems they model) are often subject to phase transitions, behaving in one way when a parameter is below a certain critical value, then switching behaviour as soon as that critical value is reached. In a real system, we do not necessarily have control over all the parameter values, so it is important to know how to find critical points and to understand system behaviour near these points. This book is a modern presentation of the 'semimartingale' or 'Lyapunov function' method applied to near-critical stochastic systems, exemplified by non-homogeneous random walks. Applications treat near-critical stochastic systems and range across modern probability theory from stochastic billiards models to interacting particle systems. Spatially non-homogeneous random walks are explored in depth, as they provide prototypical near-critical systems.
Author: Wolfgang Woess
Publisher: Cambridge University Press
ISBN: 0521552923
Category : Mathematics
Languages : en
Pages : 350
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Book Description
The main theme of this book is the interplay between the behaviour of a class of stochastic processes (random walks) and discrete structure theory. The author considers Markov chains whose state space is equipped with the structure of an infinite, locally finite graph, or as a particular case, of a finitely generated group. The transition probabilities are assumed to be adapted to the underlying structure in some way that must be specified precisely in each case. From the probabilistic viewpoint, the question is what impact the particular type of structure has on various aspects of the behaviour of the random walk. Vice-versa, random walks may also be seen as useful tools for classifying, or at least describing the structure of graphs and groups. Links with spectral theory and discrete potential theory are also discussed. This book will be essential reading for all researchers working in stochastic process and related topics.
Author: Qiuyang Shen
Publisher: Springer Nature
ISBN: 3030570975
Category : Technology & Engineering
Languages : en
Pages : 83
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Book Description
This book presents a comprehensive introduction to well logging and the inverse problem. It explores challenges such as conventional data processing methods’ inability to handle local minima issues, and presents the explanations in an easy-to-follow way. The book describes statistical data interpretation by introducing the fundamentals behind the approach, as well as a range of sampling methods. In each chapter, a specific method is comprehensively introduced, together with representative examples. The book begins with basic information on well logging and logging while drilling, as well as a definition of the inverse problem. It then moves on to discuss the fundamentals of statistical inverse methods, Bayesian inference, and a new sampling method that can be used to supplement it, the hybrid Monte Carlo method. The book then addresses a specific problem in the inversion of downhole logging data, and the interpretation of earth model complexity, before concluding with a meta-technique called the tempering method, which serves as a supplement to statistical sampling methods. Given its scope, the book offers a valuable reference guide for drilling engineers, well logging tool physicists, and geoscientists, as well as students in the areas of petroleum engineering and electrical engineering.
