Frontmatter Contents List of Figures List of Tables Preface 1. Introduction Part I 2. Stock Market Prices Do Not Follow Random Walks: Evidence from a Simple Specification Test 3. The Size and Power of the Variance Ratio Test in Finite Samples: A Monte Carlo Investigation 4. An Econometric Analysis of Nonsynchronous Trading 5. When Are Contrarian Profits Due to Stock Market Overreaction? 6. Long-Term Memory in Stock Market Prices Part II 7. Multifactor Models Do Not Explain Deviations from the CAPM 8. Data-Snooping Biases in Tests of Financial Asset Pricing Models 9. Maximizing Predictability in the Stock and Bond Markets Part III 10. An Ordered Probit Analysis of Transaction Stock Prices 11. Index-Futures Arbitrage and the Behavior of Stock Index Futures Prices 12. Order Imbalances and Stock Price Movements on October 19 and 20, 1987 References Index
CONTENTS Preface Acknowledgments from Earlier Editions Part One STOCKS AND THEIR VALUE 1. FIRM FOUNDATIONS AND CASTLES IN THE AIR 2. THE MADNESS OF CROWDS 3. SPECULATIVE BUBBLES FROM THE SIXTIES INTO THE NINETIES 4. THE EXPLOSIVE BUBBLES OF THE EARLY 2000S Part Two HOW THE PROS PLAY THE BIGGEST GAME IN TOWN 5. TECHNICAL AND FUNDAMENTAL ANALYSIS 6. TECHNICAL ANALYSIS AND THE RANDOM-WALK THEORY 7. HOW GOOD IS FUNDAMENTAL ANALYSIS? Part Three THE NEW INVESTMENT TECHNOLOGY 8. A NEW WALKING SHOE: MODERN PORTFOLIO THEORY 9. REAPING REWARD BY INCREASING RISK 10. BEHAVIORAL FINANCE 11. POTSHOTS AT THE EFFICIENT-MARKET THEORY AND WHY THEY MISS Part Four A PRACTICAL GUIDE FOR RANDOM WALKERS AND OTHER INVESTORS 12. A FITNESS MANUAL FOR RANDOM WALKERS 13. HANDICAPPING THE FINANCIAL RACE: A PRIMER IN UNDERSTANDING AND 14. A LIFE-CYCLE GUIDE TO INVESTING 15. THREE GIANT STEPS DOWN WALL STREET A Final Word A Random Walker’s Address Book and Reference Guide to Mutual