The Evolution of Technical Analysis
Financial Prediction from Babylonian Tablets to Bloomberg Terminals
Published on 8. September 2010
212 pages
978-0-470-87903-0 (ISBN)
Description
A comprehensive history of the evolution of technical analysisfrom ancient times to the Internet age
Whether driven by mass psychology, fear or greed of investors,the forces of supply and demand, or a combination, technicalanalysis has flourished for thousands of years on the outskirts ofthe financial establishment. In The Evolution of TechnicalAnalysis: Financial Prediction from Babylonian Tablets to BloombergTerminals, MIT's Andrew W. Lo details how the charting of paststock prices for the purpose of identifying trends, patterns,strength, and cycles within market data has allowed traders to makeinformed investment decisions based in logic, rather than on luck.The book
* Reveals the origins of technical analysis
* Compares and contrasts the Eastern practices of China and Japanto Western methods
* Details the contributions of pioneers such as Charles Dow,Munehisa Homma, Humphrey B. Neill, and William D. Gann
The Evolution of Technical Analysis explores thefascinating history of technical analysis, tracing where technicalanalysts failed, how they succeeded, and what it all means fortoday's traders and investors.
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Andrew W. Lo | Jasmina Hasanhodzic
The Evolution of Technical Analysis
Financial Prediction from Babylonian Tablets to Bloomberg Terminals
Book
09/2010
Bloomberg Press
€28.50
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Persons
ANDREW W. LO is the Harris & Harris Group Professor ofFinance at MIT Sloan School of Management and the director ofMIT's Laboratory for Financial Engineering. He has publishednumerous papers in leading academic and practitioner journals, andhis books include The Econometrics of Financial Markets,A Non-Random Walk Down Wall Street, and Hedge Funds: AnAnalytic Perspective. His awards include the Alfred P. SloanFoundation Fellowship, the Paul A. Samuelson Award, the Graham andDodd Award, the James R. Vertin Award, and the American Associationof Individual Investors Award. He is also Chairman and ChiefInvestment Strategist of AlphaSimplex Group, LLC.
Jasmina Hasanhodzic is a research scientist atAlpha-Simplex Group, LLC, where she develops quantitativeinvestment strategies and benchmarks. She received her PhD fromMIT's Department of Electrical Engineering and ComputerScience. Her works on alternative market betas and technicalanalysis have appeared in leading publications, such as theJournal of Investment Management, and she is the coauthorwith Andrew Lo of the book The Heretics of Finance. She alsoserves on the Board of Directors of the Market TechniciansAssociation Educational Foundation.
Content
Introduction.
Chapter 1 Ancient Roots.
The Beginnings.
Ancient Babylon.
Ancient Greece.
Ancient Rome.
Negative Attitudes toward Traders.
Chapter 2 The Middle Ages and the Renaissance.
Western Europe.
Technical Analysis.
Societal Attitudes.
Chapter 3 Asia.
Japan.
China.
Chapter 4 The New World.
Wall Street.
Societal Attitudes.
Chapter 5 A New Age for Technical Analysis.
Dow Theory.
Relative Strength.
Market Cycles and Waves.
Chart Patterns.
Volume of Trading.
Market Breadth.
Nontechnical Analysis.
Chapter 6 Technical Analysis Today.
Trends.
Patterns.
Strength.
Cycles.
Wall Street's Reinterpretation of Technical Analysis.
Chapter 7 A Brief History of Randomness and EfficientMarkets.
Prices As Objects of Study.
The Emergence of Efficient Markets.
What Is Random?
Chapter 8 Academic Approaches to Technical Analysis.
Theoretical Underpinnings.
Empirical Evaluation.
Adaptive Markets and Technical Analysis.
Notes.
Bibliography.
Acknowledgments.
About the Authors.
Index.
