The New Finance: The Case Against Efficient Markets (Contemporary Issues in Finance)

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ISBN 10: 0131730800 / ISBN 13: 9780131730809

Published by Prentice Hall, 1994

About this Item

Seller Inventory # 0131730800-3-37413900

Bibliographic Details

• Title: The New Finance: The Case Against Efficient Markets (Contemporary Issues in Finance)
• Publisher: Prentice Hall
• Publication Date: 1994
• Language: English
• ISBN 10: 0131730800
• ISBN 13: 9780131730809
• Binding: paperback
• Condition: Good
• Weight: 9 ounces

About this title

Synopsis

The Second Edition makes the case for the inefficient market, positioning the efficient market paradigm at the extreme end of a spectrum of possible states. It presents a comprehensive and organized collection of the evidence and the arguments which constitute a strong and persuasive case for over-reactive markets.

From the Back Cover

The Second Edition makes the case for the inefficient market, positioning the efficient market paradigm at the extreme end of a spectrum of possible states. It presents a comprehensive and organized collection of the evidence and the arguments which constitute a strong and persuasive case for over-reactive markets. Updates the expected 30-year future returns to growth and value stocks. Adds a much more comprehensive study of the international evidence on the relative returns to growth and value stocks. Includes a critique of the FAMA—the French three-factor model. Presents new evidence exploring how expensive stocks tend to have rapid trailing earnings growth but not rapid future growth. Offers new evidence demonstrating the nature of subsequent earnings revisions for cheap and expensive stocks. An excellent book for professionals in the financial market field.