Far from Random
Using Investor Behavior and Trend Analysis to Forecast Market Movement
Published on 17. May 2010
256 pages
978-0-470-88338-9 (ISBN)
Description
Since Burton Malkiel's seminal work A Random Walk Down Wall Street waspublished, the financial world has swallowed whole the idea thatmarket movement is chaotic and random.
In Far from Random, Richard Lehman uses behavior-basedtrend analysis to debunk Malkiel's random walk theory. Lehmandemonstrates that the market has discernible trends that areforeseeable. By learning to spot these trends, investors andtraders can predict market movement to boost returns in anythingfrom equities to 401(k) accounts.
Richard Lehman has been a financial professional for more thanthirty years. He studied the first iterations of behavioral financeback in the 1970s as a financial marketer and has since worked invarious facets of the financial industry. His early introduction tobehavioral finance and the more recent introduction to trendanalysis led him to this important discovery.
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Persons
Richard Lehman is the coauthor of New Insights on Covered Call Writing, with Lawrence McMillan (Bloomberg Press, 2003). Lehman is an instructor of both finance and derivatives at UC Berkeley Extension and a vice president in the wealth management group at Mechanics Bank in Richmond, California. His financial career spans more than thirty years in product management, marketing, and investment management, beginning with an eleven-year stint on Wall Street with E. F. Hutton, Thomson McKinnon, and the New York Stock Exchange. He lives in Richmond, CA.
Content
Foreword (Lawrence G. McMillan).
Acknowledgments.
Preface.
Introduction.
PART I A Market of What?
1 The Time Has Come.
2 Fundamentally Flawed.
3 Subjective Value.
4 Random and Efficient Markets.
5 Market Timing.
PART II Behavior, Behavior, Behavior.
6 New Thinking in Finance Isn't Financial.
7 The Behavioral Phenomenon.
8 Anomalies.
PART III Charting a Golden Path.
9 A New Market Paradigm.
10 Introduction to Trend Channel Analysis.
11 Reading Between the Lines.
12 Putting It All Together.
Index.
