Fama postulated about Efficient Market Theory through his famous publication "Random Walks in Stock Market Prices" in the 60s [1,2]
The recent decade has been most interesting as TA & system trading gains spot light in the demonstration that the market is not entirely efficient. Among the many papers, books and even patents, this is just one of them "A Non-Random Walk Down Wall Street" [3,4,5]
Fellow traders, what do you think and what does your experience tells you so far? Any further interesting literature to share (either camp is good for me).
References:
[1] http://www.ifa.com/Media/Images/PDF files/FamaRandomWalk.pdf
[2] http://www.investorhome.com/emh.htm
[3] http://www.amazon.com/gp/product/0691092567/102-7119293-8268933?v=glance&n=283155&v=glance
[4] http://pup.princeton.edu/books/lo/
[5] http://www.pupress.princeton.edu/titles/5904.html
The recent decade has been most interesting as TA & system trading gains spot light in the demonstration that the market is not entirely efficient. Among the many papers, books and even patents, this is just one of them "A Non-Random Walk Down Wall Street" [3,4,5]
Fellow traders, what do you think and what does your experience tells you so far? Any further interesting literature to share (either camp is good for me).
References:
[1] http://www.ifa.com/Media/Images/PDF files/FamaRandomWalk.pdf
[2] http://www.investorhome.com/emh.htm
[3] http://www.amazon.com/gp/product/0691092567/102-7119293-8268933?v=glance&n=283155&v=glance
[4] http://pup.princeton.edu/books/lo/
[5] http://www.pupress.princeton.edu/titles/5904.html
