"According to the academic world view that markets are efficient, only the revelation of a dramatic piece of informati…"

"The concept of a random walk is simple but rich for its many applications, not only in finance but also in physics an…"

"Since it is the actions of investors whose buy and sell decisions move prices up and down, any deviation from a rando…"

"Positive feedbacks, when unchecked, can produce runaways until the deviation from equilibrium is so large that other …"

"The old Wall Street saying " buy on rumors, sell on the news," is alive and well, as can be seen from numerous source…"

"These rumors do not circulate in all directions, but essentially from the top to the bottom of society. The rather so…"

"It is difficult to assess how much this gambling spirit is active in the minds of individual investors. If it is, eve…"

"Profiting from being in the minority leads to interesting paradoxes. Rather diabolically, if all traders use the same…"

"Knowledge is encoded in models. Models are synthetic sets of rules, and pictures, and algorithms providing us with us…"

"At another level, market crashes constitute beautiful examples of events that we would all like to forecast. The arro…"