Posts Tagged ‘Andrew Lo’
Economic Models Vs Common Sense
Wednesday, September 2, 2009 13:04 No CommentsThe efficient markets hypothesis is the catwalk supermodel of economics. Strutting down the runway in haute couture, catwalk supermodels present an elegant stylized vision of fashion that bears scant resemblance to the reality of buying clothes on the high street.
Through its failure in successive crises – the 1987 stock market crash, the collapse of Long-Term [...]