Download Adaptive Markets: Financial Evolution at the Speed of Thought Audiobook

Adaptive Markets: Financial Evolution at the Speed of Thought Audiobook, by Andrew W. Lo Extended Sample Click for printable size audiobook cover
Author: Andrew W. Lo Narrator: Jonathan Yen Publisher: Tantor Format: Unabridged Audiobook Delivery: Instant Download Audio Length: Release Date: January 2018 ISBN: 9781541485297
4 out of 54 out of 54 out of 54 out of 54 out of 5 4.00 (2 ratings) (rate this audio book)
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Half of all Americans have money in the stock market, yet economists can’t agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe—and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew W. Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.

Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn’t wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo’s new paradigm explains how financial evolution shapes behavior and markets at the speed of thought—a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.

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Quotes & Awards

  • “Lo integrates a deep understanding of finance with a broad knowledge of biology, psychology, and ethics to offer a tantalizing vision…for a more just, healthy, and prosperous world.”

    Peter Hancock, President and CEO of AIG

Listener Reviews

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  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Tim | 6/12/2018

    " Quite a broad and interesting discussion that wends its way through a myriad of initially disjoint topics that ultimately end up at the same place. Finance is a topic that usually glazes my eyes over, but Lo has managed to talk about credit default swaps and what-have-you in a manner that is engaging, sometimes terrifying, sometimes funny; but always on point. Any technical jargon is explained quite clearly & no previous knowledge is assumed - so it's quite accessible to anyone. At times though (and I mean quite frequently), a compendium of figures are referred to. Whilst many are also explained to some degree, the audiobook format doesn't bode so well here. So if you really want to get deep into the book it's probably better to get a hard copy. Either that or don't be cycling through forests without some form of futuristic on-demand heads-up display whilst listening. "

About the Author

Andrew W. Lo is the Charles E. and Susan T. Harris Professor at the MIT Sloan School of Management and director of the MIT Laboratory for Financial Engineering. He is also the author of Hedge Funds and coauthor of A Non-Random Walk Down Wall Street and The Econometrics of Financial Markets.

About the Narrator

Jonathan Yen is a commercial voice-over artist and Earphones Award–winning audiobook narrator. He was inspired by the Golden Age of Radio, and while the gold was gone by the time he got there, he has carried that inspiration through to commercial work, voice acting, and stage productions. From vintage Howard Fast science fiction to naturalist Paul Rosolie’s true adventures in the Amazon, he loves to tell a good story.