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Beyond the Random Walk: A Guide to Stock Market Anomalies and Low Risk Investing
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eBay item number:284170502549
Item specifics
- Condition
- Artist
- Singal, Vijay
- ISBN
- 9780195158670
About this product
Product Identifiers
Publisher
Oxford University Press, Incorporated
ISBN-10
0195158679
ISBN-13
9780195158670
eBay Product ID (ePID)
2380748
Product Key Features
Book Title
Beyond the Random Walk : a Guide to Stock Market Anomalies and Low-Risk Investing
Number of Pages
368 Pages
Language
English
Publication Year
2003
Topic
General, Investments & Securities / Stocks, Investments & Securities / General
Illustrator
Yes
Genre
Business & Economics
Book Series
Financial Management Association Survey and Synthesis Ser.
Format
Hardcover
Dimensions
Item Height
1.1 in
Item Weight
22.9 Oz
Item Length
6.4 in
Item Width
9.5 in
Additional Product Features
Intended Audience
Trade
LCCN
2003-008016
Dewey Edition
21
Reviews
"Beyond the Random Walk is the definitive work on how stocks can be persistently mis-priced, lucidly and comprehensively cataloging market inefficiencies. It offers investors sensible strategies to exploit valuable investment opportunities and is a critical reference for researchers."--Lawrence A. Cunningham, Boston College, author of The Essays of Warren Buffett: Lessons for Corporate America, "We can thank Vijay Singal for categorizing the major stock market inefficiencies, and for telling us how to make money from them."--Roger G. Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates, "This is a very nice summary of the academic literature on anomalies, andcontains some intriguing suggestions for taking advantage of them." --Andrew W.Lo, MIT, "This is a comprehensive look at financial market anomalies in languagethat is accessible to all. While no book on the market offers foolproof ways ofmaking money, this book will certainly be an instructive read and bring the layperson up to speed on the latest research." --Raghuram Rajan, Joseph GidwitzProfessor of Finance, University of Chicago, "Understanding how the markets work and how to exploit them for profit iswhat makes Wall Street tick. Successful investing is based on extracting smalllow risk profits; this is what separates good managers from great ones. Byexplaining how to look for, spot and take advantage of anomalies Singal is aboutto create a whole new class of great managers. It is clear that his research,experience, and expertise are something all investors should take advantage ofas they try to navigate the randomness and not so randomness that is themarket." --Daniel A. Strachman, author of Essential Stock Picking Strategies andEditor of The Strachman Report, "This is a comprehensive look at financial market anomalies in language that is accessible to all. While no book on the market offers foolproof ways of making money, this book will certainly be an instructive read and bring the lay person up to speed on the latest research." --Raghuram Rajan,Joseph Gidwitz Professor of Finance, University of Chicago, "A great Christmas gift for investors."--SmartMoney "Beyond the Random Walk is the definitive work on how stocks can be persistently mis-priced, lucidly and comprehensively cataloging market inefficiencies. It offers investors sensible strategies to exploit valuable investment opportunities and is a critical reference for researchers." --Lawrence A. Cunningham, Boston College, author of The Essays of Warren Buffett: Lessons for Corporate America "Vijay Singal's interesting book provides an overall treatment of the return anomalies that have gripped the attention of academics and investors alike. It is a good source for those who want to understand stock market anomalies, and a useful guide for those who want to trade on them. As always, those seeking to beat the market would do well to remind themselves about the perils of overconfidence, and the attendant risks that trading on sentiment entails."--Hersh Shefrin, Santa Clara University, author of Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing "We can thank Vijay Singal for categorizing the major stock market inefficiencies, and for telling us how to make money from them."--Roger G. Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates "Singal provides an easy-to-read introduction to the pricing anomalies discovered by academics and exploited by traders. Understanding these anomalies will help you identify the systematic mistakes traders make and how you might profit from them."--Larry Harris, Fred V. Keenan Chair in Finance, Marshall School of Business at USC, author of Trading & Exchanges: Market Microstructure for Practitioners "Understanding how the markets work and how to exploit them for profit is what makes Wall Street tick. Successful investing is based on extracting small low risk profits; this is what separates good managers from great ones. By explaining how to look for, spot and take advantage of anomalies Singal is about to create a whole new class of great managers. It is clear that his research, experience, and expertise are something all investors should take advantage of as they try to navigate the randomness and not so randomness that is the market." --Daniel A. Strachman, author of Essential Stock Picking Strategies and Editor of The Strachman Report "This is a comprehensive look at financial market anomalies in language that is accessible to all. While no book on the market offers foolproof ways of making money, this book will certainly be an instructive read and bring the lay person up to speed on the latest research." --Raghuram Rajan, Joseph Gidwitz Professor of Finance, University of Chicago "This is a very nice summary of the academic literature on anomalies, and contains some intriguing suggestions for taking advantage of them." --Andrew W. Lo, MIT, "Vijay Singal's interesting book provides an overall treatment of the return anomalies that have gripped the attention of academics and investors alike. It is a good source for those who want to understand stock market anomalies, and a useful guide for those who want to trade on them. Asalways, those seeking to beat the market would do well to remind themselves about the perils of overconfidence, and the attendant risks that trading on sentiment entails."--Hersh Shefrin, Santa Clara University, author of Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology ofInvesting, "Singal provides an easy-to-read introduction to the pricing anomaliesdiscovered by academics and exploited by traders. Understanding these anomalieswill help you identify the systematic mistakes traders make and how you mightprofit from them."--Larry Harris, Fred V. Keenan Chair in Finance, MarshallSchool of Business at USC, author of Trading and Exchanges: MarketMicrostructure for Practitioners, "Vijay Singal's interesting book provides an overall treatment of thereturn anomalies that have gripped the attention of academics and investorsalike. It is a good source for those who want to understand stock marketanomalies, and a useful guide for those who want to trade on them. As always,those seeking to beat the market would do well to remind themselves about theperils of overconfidence, and the attendant risks that trading on sentimententails."--Hersh Shefrin, Santa Clara University, author of Beyond Greed andFear: Understanding Behavioral Finance and the Psychology of Investing, "Beyond the Random Walk is the definitive work on how stocks can bepersistently mis-priced, lucidly and comprehensively cataloging marketinefficiencies. It offers investors sensible strategies to exploit valuableinvestment opportunities and is a critical reference for researchers."--Lawrence A. Cunningham, Boston College, author of The Essays of WarrenBuffett: Lessons for Corporate America, "A great Christmas gift for investors."--SmartMoney"Beyond the Random Walk is the definitive work on how stocks can be persistently mis-priced, lucidly and comprehensively cataloging market inefficiencies. It offers investors sensible strategies to exploit valuable investment opportunities and is a critical reference for researchers." --Lawrence A. Cunningham, Boston College, author of The Essays of Warren Buffett: Lessons for Corporate America"Vijay Singal's interesting book provides an overall treatment of the return anomalies that have gripped the attention of academics and investors alike. It is a good source for those who want to understand stock market anomalies, and a useful guide for those who want to trade on them. As always, those seeking to beat the market would do well to remind themselves about the perils of overconfidence, and the attendant risks that trading on sentiment entails."--Hersh Shefrin, Santa Clara University, author of Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing"We can thank Vijay Singal for categorizing the major stock market inefficiencies, and for telling us how to make money from them."--Roger G. Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates"Singal provides an easy-to-read introduction to the pricing anomalies discovered by academics and exploited by traders. Understanding these anomalies will help you identify the systematic mistakes traders make and how you might profit from them."--Larry Harris, Fred V. Keenan Chair in Finance, Marshall School of Business at USC, author of Trading & Exchanges: Market Microstructure for Practitioners"Understanding how the markets work and how to exploit them for profit is what makes Wall Street tick. Successful investing is based on extracting small low risk profits; this is what separates good managers from great ones. By explaining how to look for, spot and take advantage of anomalies Singal is about to create a whole new class of great managers. It is clear that his research, experience, and expertise are something all investors should take advantage of as they try to navigate the randomness and not so randomness that is the market." --Daniel A. Strachman, author of Essential Stock Picking Strategies and Editor of The Strachman Report"This is a comprehensive look at financial market anomalies in language that is accessible to all. While no book on the market offers foolproof ways of making money, this book will certainly be an instructive read and bring the lay person up to speed on the latest research." --Raghuram Rajan, Joseph Gidwitz Professor of Finance, University of Chicago"This is a very nice summary of the academic literature on anomalies, and contains some intriguing suggestions for taking advantage of them." --Andrew W. Lo, MIT, "We can thank Vijay Singal for categorizing the major stock marketinefficiencies, and for telling us how to make money from them."--Roger G.Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates, "A great Christmas gift for investors."--SmartMoney "Beyond the Random Walkis the definitive work on how stocks can be persistently mis-priced, lucidly and comprehensively cataloging market inefficiencies. It offers investors sensible strategies to exploit valuable investment opportunities and is a critical reference for researchers." --Lawrence A. Cunningham, Boston College, author ofThe Essays of Warren Buffett: Lessons for Corporate America "Vijay Singal's interesting book provides an overall treatment of the return anomalies that have gripped the attention of academics and investors alike. It is a good source for those who want to understand stock market anomalies, and a useful guide for those who want to trade on them. As always, those seeking to beat the market would do well to remind themselves about the perils of overconfidence, and the attendant risks that trading on sentiment entails."--Hersh Shefrin, Santa Clara University, author ofBeyond Greed and Fear: Understanding Behavioral Finance and the Psychology ofInvesting "We can thank Vijay Singal for categorizing the major stock market inefficiencies, and for telling us how to make money from them."--Roger G. Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates "Singal provides an easy-to-read introduction to the pricing anomalies discovered by academics and exploited by traders. Understanding these anomalies will help you identify the systematic mistakes traders make and how you might profit from them."--Larry Harris, Fred V. Keenan Chair in Finance, Marshall School of Business at USC, author ofTrading & Exchanges: Market Microstructure for Practitioners "Understanding how the markets work and how to exploit them for profit is what makes Wall Street tick. Successful investing is based on extracting small low risk profits; this is what separates good managers from great ones. By explaining how to look for, spot and take advantage of anomalies Singal is about to create a whole new class of great managers. It is clear that his research, experience, and expertise are something all investors should take advantage of as they try to navigate the randomness and not so randomness that is the market." --Daniel A. Strachman, author ofEssential StockPicking Strategiesand Editor ofThe Strachman Report "This is a comprehensive look at financial market anomalies in language that is accessible to all. While no book on the market offers foolproof ways of making money, this book will certainly be an instructive read and bring the lay person up to speed on the latest research." --Raghuram Rajan, Joseph Gidwitz Professor of Finance, University of Chicago "This is a very nice summary of the academic literature on anomalies, and contains some intriguing suggestions for taking advantage of them." --Andrew W. Lo, MIT, "Singal provides an easy-to-read introduction to the pricing anomalies discovered by academics and exploited by traders. Understanding these anomalies will help you identify the systematic mistakes traders make and how you might profit from them."--Larry Harris, Fred V. Keenan Chair inFinance, Marshall School of Business at USC, author of Trading and Exchanges: Market Microstructure for Practitioners, "Understanding how the markets work and how to exploit them for profit is what makes Wall Street tick. Successful investing is based on extracting small low risk profits; this is what separates good managers from great ones. By explaining how to look for, spot and take advantage of anomaliesSingal is about to create a whole new class of great managers. It is clear that his research, experience, and expertise are something all investors should take advantage of as they try to navigate the randomness and not so randomness that is the market." --Daniel A. Strachman, author of EssentialStock Picking Strategies and Editor of The Strachman Report, "A great Christmas gift for investors."-- SmartMoney " Beyond the Random Walk is the definitive work on how stocks can be persistently mis-priced, lucidly and comprehensively cataloging market inefficiencies. It offers investors sensible strategies to exploit valuable investment opportunities and is a critical reference for researchers." --Lawrence A. Cunningham, Boston College, author of The Essays of Warren Buffett: Lessons for Corporate America "Vijay Singal's interesting book provides an overall treatment of the return anomalies that have gripped the attention of academics and investors alike. It is a good source for those who want to understand stock market anomalies, and a useful guide for those who want to trade on them. As always, those seeking to beat the market would do well to remind themselves about the perils of overconfidence, and the attendant risks that trading on sentiment entails."--Hersh Shefrin, Santa Clara University, author of Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing "We can thank Vijay Singal for categorizing the major stock market inefficiencies, and for telling us how to make money from them."--Roger G. Ibbotson, Yale School of Management, and Chairman, Ibbotson Associates "Singal provides an easy-to-read introduction to the pricing anomalies discovered by academics and exploited by traders. Understanding these anomalies will help you identify the systematic mistakes traders make and how you might profit from them."--Larry Harris, Fred V. Keenan Chair in Finance, Marshall School of Business at USC, author of Trading & Exchanges: Market Microstructure for Practitioners "Understanding how the markets work and how to exploit them for profit is what makes Wall Street tick. Successful investing is based on extracting small low risk profits; this is what separates good managers from great ones. By explaining how to look for, spot and take advantage of anomalies Singal is about to create a whole new class of great managers. It is clear that his research, experience, and expertise are something all investors should take advantage of as they try to navigate the randomness and not so randomness that is the market." --Daniel A. Strachman, author of Essential Stock Picking Strategies and Editor of The Strachman Report "This is a comprehensive look at financial market anomalies in language that is accessible to all. While no book on the market offers foolproof ways of making money, this book will certainly be an instructive read and bring the lay person up to speed on the latest research." --Raghuram Rajan, Joseph Gidwitz Professor of Finance, University of Chicago "This is a very nice summary of the academic literature on anomalies, and contains some intriguing suggestions for taking advantage of them." --Andrew W. Lo, MIT, "This is a very nice summary of the academic literature on anomalies, and contains some intriguing suggestions for taking advantage of them." --Andrew W. Lo, MIT
Dewey Decimal
332.6
Synopsis
In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Vijay Singal, Ph.D., CFA, points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. In Beyond the Random Walk, Singal discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit. The author distills several decades of academic research into a focused discussion of market anomalies that is both accessible and useful to people with varied backgrounds. Past empirical evidence is supplemented with author's own research using more recent data. Anomalies covered include the "December Effect," "Momentum in Industry Stocks," "S&P 500 Index Changes," "Trading by Insiders," and "Merger Arbitrage." In each chapter, the author describes the particular anomaly, explainshow it occurs, shows ways to take advantage of the anomaly, and highlights the risks involved. We learn, for example, that shares of stocks that have appreciated in recent months become scarce in late December, because investors wait until January before they sell (to postpone payment of taxes onprofits). This scarcity drives the price up--the "December Effect"--and smart buyers can make the equivalent of 75% annual return on a five-day investment. Each chapter includes suggestions for further reading as well as tables and graphs that support the discussion. The book concludes with a preview of many other interesting anomalies and a section on how investor behavior might influence prices. Clearly written and informative, this well-researched volume is a must read for investors, traders, market specialists, and students of financial markets., In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Vijay Singal, Ph.D., CFA, points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. In Beyond the Random Walk, Singal discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit. The author distills several decades of academic research into a focused discussion of market anomalies that is both accessible and useful to people with varied backgrounds. Past empirical evidence is supplemented with author's own research using more recent data. Anomalies covered include the "December Effect," "Momentum in Industry Stocks," "SandP 500 Index Changes," "Trading by Insiders," and "Merger Arbitrage." In each chapter, the author describes the particular anomaly, explains how it occurs, shows ways to take advantage of the anomaly, and highlights the risks involved. We learn, for example, that shares of stocks that have appreciated in recent months become scarce in late December, because investors wait until January before they sell (to postpone payment of taxes on profits). This scarcity drives the price up--the "December Effect"--and smart buyers can make the equivalent of 75% annual return on a five-day investment. Each chapter includes suggestions for further reading as well as tables and graphs that support the discussion. The book concludes with a preview of many other interesting anomalies and a section on how investor behavior might influence prices. Clearly written and informative, this well-researched volume is a must read for investors, traders, market specialists, and students of financial markets., In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Vijay Singal, Ph.D., CFA, points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. In Beyond the Random Walk, Singal discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit. The author distills several decades of academic research into a focused discussion of market anomalies that is both accessible and useful to people with varied backgrounds. Past empirical evidence is supplemented with author's own research using more recent data. Anomalies covered include the "December Effect," "Momentum in Industry Stocks," "S&P 500 Index Changes," "Trading by Insiders," and "Merger Arbitrage." In each chapter, the author describes the particular anomaly, explains how it occurs, shows ways to take advantage of the anomaly, and highlights the risks involved. We learn, for example, that shares of stocks that have appreciated in recent months become scarce in late December, because investors wait until January before they sell (to postpone payment of taxes on profits). This scarcity drives the price up--the "December Effect"--and smart buyers can make the equivalent of 75% annual return on a five-day investment. Each chapter includes suggestions for further reading as well as tables and graphs that support the discussion. The book concludes with a preview of many other interesting anomalies and a section on how investor behavior might influence prices. Clearly written and informative, this well-researched volume is a must read for investors, traders, market specialists, and students of financial markets., In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Vijay Singal, Ph.D., CFA, points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. In Beyond the Random Walk , Singal discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit. The author distills several decades of academic research into a focused discussion of market anomalies that is both accessible and useful to people with varied backgrounds. Past empirical evidence is supplemented with author's own research using more recent data. Anomalies covered include the "December Effect," "Momentum in Industry Stocks," "S&P 500 Index Changes," "Trading by Insiders," and "Merger Arbitrage." In each chapter, the author describes the particular anomaly, explains how it occurs, shows ways to take advantage of the anomaly, and highlights the risks involved. We learn, for example, that shares of stocks that have appreciated in recent months become scarce in late December, because investors wait until January before they sell (to postpone payment of taxes on profits). This scarcity drives the price up--the "December Effect"--and smart buyers can make the equivalent of 75% annual return on a five-day investment. Each chapter includes suggestions for further reading as well as tables and graphs that support the discussion. The book concludes with a preview of many other interesting anomalies and a section on how investor behavior might influence prices. Clearly written and informative, this well-researched volume is a must read for investors, traders, market specialists, and students of financial markets.
LC Classification Number
HG4521.S576 2004
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