The New Finance: The Case Against Efficient Markets

by Robert A. Haugen

Book Overview

'I have been investigating cricket matches, Watson,' said Holmes. 'In the last twenty-five years, three people have been killed during cricket matches. Two of them were Pendryth and Dodds during the... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0131730800
• ISBN13: 9780131730809
• Release Date: January 1995
• Publisher: Prentice Hall
• Length: 146 Pages
• Weight: 0.62 lbs.
• Dimensions: 0.5" x 6.0" x 9.0"

Customer Reviews

Obvious and yet not

It is nice to have someone spell out exactly why the market can be inefficient. In this regard, Robert Haugen makes a valient and concise attempt to tackle the subject. A quick and easy read that will help articulate that which is intuitive.

Read Without Prejudice

This book is controversial. It defends the opposite of what almost all mainstream financial academics belive : Markets are inneficient and somehow forecastable by a money manager with proper analysis tools. Thats exactly why this book is important for a serious finance thinker. It forces one to rethink key assumptions - yes, Haugen's arguments, reasoning and numbers are convincing - for a better understanding. An open minded reader with adequate finance knowledge (beginners wont benefit much) will truly benefit from this challenging book, be it changing his mind/view on finance (accepting some of haugen's ideas), or simply reassuring his own previous belifs/approach.

The Emperor has no clothes!!!

Only a courageous professor willing to really find truth would write this insightful book. The fact that he also has a great sense of humor is to be greatly commended. This man deserves a Nobel Prize. It APPEARS THAT HE WILL BE ABLE TO FUND IIT!

Great book that really makes you think about finance !

The author's humor is not always funny and is mostly used to fill up the pages, but the contents are interesting and enlightening. It gave me courage to continue what I was already doing in the stock market, buying "losers". A must read for everybody interested in investing or finance !!

It tears conventional investment theory apart. A must read!

This easy to read and humorous criticism of modern investment philosophy will make you question everything you thought was a "gimme" in the world of investments. Extensive background evidence and a break with conventional thinking make this book a requirement investors from the small personal investor to large pension fund managers. The author takes the quantitative elements of finance and wraps investor psychology around it.