Publisher's Synopsis
This guide to modern investment theory gives the evidence for and against it, and shows how to translate theory into practical investment strategies. It explains the "random walk" or Efficient Market Hypothesis most investment professionals accept without question, and describes its strengths and weaknesses - and how investors can take advantage of the areas in which it is not true to earn greater profits without increased risk. The book also examines concepts of value, how the numbers can lie, diversification, market risk, out-of-favour stocks, little stocks, and market timing.
