Andrew W. Lo on "Adaptive Markets: Financial Evolution at the Speed of Thought" скачать в хорошем качестве

Andrew W. Lo on "Adaptive Markets: Financial Evolution at the Speed of Thought"

Evening Lecture/Symposia Series Andrew W. Lo on "Adaptive Markets: Financial Evolution at the Speed of Thought" Wednesday, January 24, 2018 | 05:30 PM to 07:00 PM Event presented by the Museum of American Finance, the Fordham University Gabelli Center for Global Security Analysis and Bloomberg for Education Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe―and as financial bubbles, crashes and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist. Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence and other fields, Professor Lo shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. His new paradigm explains how financial evolution shapes behavior and markets at the speed of thought―a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation. About the Speaker Andrew W. Lo is the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering. He has published numerous articles in finance and economics journals, and has authored several books including Adaptive Markets: Financial Evolution at the Speed of Thought, The Econometrics of Financial Markets, A Non-Random Walk Down Wall Street, Hedge Funds: An Analytic Perspective and The Evolution of Technical Analysis. His awards include the Alfred P. Sloan Foundation Fellowship, the Paul A. Samuelson Award, the American Association for Individual Investors Award, the Graham and Dodd Award and numerous other awards and honors. MUSEUM OF AMERICAN FINANCE 48 Wall Street | New York, NY 10005 Tel: 212.908.4110 | Fax: 212.742.0573 To share or join this event simply go to:    / financemuseum