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- Also random walk hypothesis. Impossible to predict the next step. efficient market theory says that the prices of many financial assets, such as shares, follow a random walk. In other words, there is no way of knowing whether the next change in the price will be up or down, or by how much it will rise or fall. The reason is that in an efficient market, all the information that would allow an investor to predict the next price move is already reflected in the current price. This belief has led some economists to argue that investors cannot consistently outperform the market. But some economists argue that asset prices are predictable (they follow a non-random walk) and that markets are not efficient. The Economist
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- The most well-known practical example of random walk theory occurred in 1988 when the Wall Street Journal sought to test Malkiel's theory by creating the annual Wall Street Journal Dartboard Contest, pitting professional investors against darts for stock-picking supremacy. - Investopedia by
- The random walk hypothesis has merit in dissuading investors from trying to make guesses about short-term stock movements. However, many long-term investors still manage to invest well by putting time on their side. - The Motley Fool by
- Malkiel and the random walk theory provide considerable support to the intimidated individual investor, but Malkiel in particular encourages investors to understand the theories and investment methods that the random walk theory challenges. - Investing Answers by
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- Teoría del paseo aleatorio
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- La teoría del paseo aleatorio afirma que todo cambio, o evolución existente en los mercados financieros, no es medible y estimable. Todo ello, debido a la aleatoriedad y eficiencia de los mismos. Economipedia - by M. Belén Maidana
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- La teoría del paseo aleatorio ha tenido un uso muy extendido y dominante en campos como las finanzas. Aunque es aplicable en otros campos susceptibles de mediciones, como las ciencias físicas o la electrónica. - Economipedia by M. Belén Maidana
- La teoría del paseo aleatorio fue formulada por Burton G. Malkiel, catedrático de la Universidad de Princeton y popular por ser el autor del libro “Un paseo aleatorio por Wall Street”. - Academia de inversión by M. Belén Maidana
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- (teoria ou hipótese) do passeio aleatório
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- A random walk theory, traduzida como teoria do passeio aleatório, defende que as variações nos valores das ações independem uma da outra, tendo a mesma distribuição. Com isso, uma análise que se baseia nos movimentos passados no mercado financeiro não é eficiente. Suno Research - by Julio Cinquina
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- Para alcançar tal propósito, foram utilizados os conhecimentos da Teoria de Finanças sobre a Hipótese do Mercado Eficiente e a Hipótese do Passeio Aleatório (Random Walk) e suas implicações para explicar o comportamento dos preços das ações no mercado brasileiro. - UnB by Julio Cinquina
- Summers (1988) argumenta que, embora os testes iniciais não rejeitassem a hipótese do passeio aleatório, tal fato não deveria ser tomado como evidência a favor da hipótese de eficiência do mercado. - Revista Brasileira de Economia by Julio Cinquina
- Conceitos Financeiros: Teoria do Passeio Aleatório
A Teoria do Passeio Aleatório ganhou popularidade em 1973, quando Burton Malkiel escreveu o clássico "A Random Walk Down Wall Street". - Toro Radar by Julio Cinquina
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