Chaos And Order In The Capital Markets

Author : Edgar E. Peters
Publisher : John Wiley & Sons
Page : 296 pages
File Size : 42,7 Mb
Release : 1996-08-30
Category : Business & Economics
ISBN : 0471139386

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Chaos and Order in the Capital Markets by Edgar E. Peters Pdf

The latest developments in chaos theory - from an industry expert Chaos and Order in the Capital Markets was the first book to introduce and popularize chaos as it applies to finance. It has since become the classic source on the topic. This new edition is completely updated to include the latest ripples in chaos theory with new chapters that tie in today's hot innovations, such as fuzzy logic, neural nets, and artificial intelligence. Critical praise for Peters and the first edition of Chaos and Order in the Capital Markets "The bible of market chaologists." - BusinessWeek "Ed Peters has written a first-class summary suitable for any investment professional or skilled investor." - Technical Analysis of Stocks & Commodities "It ranks among the most provocative financial books of the past few years. Reading this book will provide a generous payback for the time and mental energy expended." - Financial Analysts Journal This second edition of Chaos and Order in the Capital Markets brings the topic completely up to date with timely examples from today's markets and descriptions of the latest wave of technology, including genetic algorithms, wavelets, and complexity theory. Chaos and Order in the Capital Markets was the very first book to explore and popularize chaos theory as it applies to finance. It has since become the industry standard, and is regarded as the definitive source to which analysts, investors, and traders turn for a comprehensive overview of chaos theory. Now, this invaluable reference - touted by BusinessWeek as "the bible of market chaologists" - has been updated and revised to bring you the latest developments in the field. Mainstream capital market theory is based on efficient market assumptions, even though the markets themselves exhibit characteristics that are symptomatic of nonlinear dynamic systems. As it explores - and validates - this nonlinear nature, Chaos and Order repudiates the "random walk" theory and econometrics. It shifts the focus away from the concept of efficient markets toward a more general view of the forces underlying the capital market system. Presenting new analytical techniques, as well as reexamining methods that have been in use for the past forty years, Chaos and Order offers a thorough examination of chaos theory and fractals as applied to investments and economics. This new edition includes timely examples from today's markets and descriptions of cutting-edge technologies-genetic algorithms, wavelets, complexity theory-and hot innovations, such as fuzzy logic and artificial intelligence. Beyond the history of current capital market theory, Chaos and Order covers the crucial characteristics of fractals, the analysis of fractal time series through rescaled range analysis (R/S), the specifics of fractal statistics, and the definition and analysis of chaotic systems. It offers an in-depth exploration of: * Random walks and efficient markets - the development of the efficient market hypothesis (EMH) and modern portfolio theory * The linear paradigm - why it has failed * Nonlinear dynamic systems - phase space, the Henon Map, Lyapunov exponents * Applying chaos and nonlinear methods - neural networks, genetic algorithms * Dynamical analysis of time series - reconstructing a phase space, the fractal dimension Tonis Vaga's Coherent Market Hypothesis - the theory of social imitation, control parameters, Vaga's implementations Plus, Chaos and Order now contains a Windows-compatible disk including data sets for running analyses described in the appendices. Written by a leading expert in the field, Chaos and Order in the Capital Markets has all the information you need for a complete, up-to-date look at chaos theory. This latest edition will undoubtedly prove to be as invaluable as the first.

Author : Edgar E. Peters
Publisher : John Wiley & Sons
Page : 352 pages
File Size : 55,9 Mb
Release : 1994-02-08
Category : Business & Economics
ISBN : 0471585246

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Fractal Market Analysis by Edgar E. Peters Pdf

A leading pioneer in the field offers practical applications of this innovative science. Peters describes complex concepts in an easy-to-follow manner for the non-mathematician. He uses fractals, rescaled range analysis and nonlinear dynamical models to explain behavior and understand price movements. These are specific tools employed by chaos scientists to map and measure physical and now, economic phenomena.

Author : Tonis Vaga
Publisher : Tonis Vaga
Page : 284 pages
File Size : 47,7 Mb
Release : 1994
Category : Business & Economics
ISBN : 0070667861

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Profiting from Chaos by Tonis Vaga Pdf

Finally, a book that not only explains the relationship between investing and chaos theory--the cutting-edge dicipline that Business Week says will "revitalize the money-management industry"--but also shows readers how to use the theory to master the financial markets. Illustrated.

Author : John Y. Campbell,Andrew W. Lo,A. Craig MacKinlay
Publisher : Princeton University Press
Page : 630 pages
File Size : 52,7 Mb
Release : 2012-06-28
Category : Business & Economics
ISBN : 9781400830213

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The Econometrics of Financial Markets by John Y. Campbell,Andrew W. Lo,A. Craig MacKinlay Pdf

The past twenty years have seen an extraordinary growth in the use of quantitative methods in financial markets. Finance professionals now routinely use sophisticated statistical techniques in portfolio management, proprietary trading, risk management, financial consulting, and securities regulation. This graduate-level textbook is intended for PhD students, advanced MBA students, and industry professionals interested in the econometrics of financial modeling. The book covers the entire spectrum of empirical finance, including: the predictability of asset returns, tests of the Random Walk Hypothesis, the microstructure of securities markets, event analysis, the Capital Asset Pricing Model and the Arbitrage Pricing Theory, the term structure of interest rates, dynamic models of economic equilibrium, and nonlinear financial models such as ARCH, neural networks, statistical fractals, and chaos theory. Each chapter develops statistical techniques within the context of a particular financial application. This exciting new text contains a unique and accessible combination of theory and practice, bringing state-of-the-art statistical techniques to the forefront of financial applications. Each chapter also includes a discussion of recent empirical evidence, for example, the rejection of the Random Walk Hypothesis, as well as problems designed to help readers incorporate what they have read into their own applications.

Author : Edgar E. Peters
Publisher : John Wiley & Sons
Page : 241 pages
File Size : 41,9 Mb
Release : 2001-06-06
Category : Business & Economics
ISBN : 9780471437093

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Complexity, Risk, and Financial Markets by Edgar E. Peters Pdf

Patterns in the Dark is that rare book that offers an entirely new perspective on an issue of ongoing concern to investors: the unpredictability of financial markets. In this groundbreaking work, leading investment strategist and authority on chaos theory, Edgar Peters makes accessible ways of understanding market behavior that-until now-were known only to specialists. Patterns in the Dark draws on a broad range of human knowledge and experience to clarify the behavior of a system that now operates on a global, 24-hour, and thoroughly interconnected basis. Peters illuminates the complex operation of the marketplace by including keen observations drawn from science, mathematics, and artistic creation as well as economics. His models include the social visions of the Austrian economists, Darwinian ideas of evolution, the laws of physics, and the creative risks of the artist. His meditations on financial markets weigh the effects of limitations vs. rules, risks vs. uncertainty, and order vs. chaos. As a guide to a world marketplace that has become increasingly complex and uncertain, Patterns in the Dark offers the investor a rich source of insight, illumination, and wisdom.

Author : Richard J. Bauer
Publisher : John Wiley & Sons
Page : 324 pages
File Size : 48,6 Mb
Release : 1994-03-31
Category : Business & Economics
ISBN : 0471576794

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Genetic Algorithms and Investment Strategies by Richard J. Bauer Pdf

When you combine nature's efficiency and the computer's speed, thefinancial possibilities are almost limitless. Today's traders andinvestment analysts require faster, sleeker weaponry in today'sruthless financial marketplace. Battles are now waged at computerspeed, with skirmishes lasting not days or weeks, but mere hours.In his series of influential articles, Richard Bauer has shown whythese professionals must add new computerized decision-making toolsto their arsenal if they are to succeed. In Genetic Algorithms andInvestment Strategies, he uniquely focuses on the most powerfulweapon of all, revealing how the speed, power, and flexibility ofGAs can help them consistently devise winning investmentstrategies. The only book to demonstrate how GAs can workeffectively in the world of finance, it first describes thebiological and historical bases of GAs as well as othercomputerized approaches such as neural networks and chaos theory.It goes on to compare their uses, advantages, and overallsuperiority of GAs. In subsequently presenting a basic optimizationproblem, Genetic Algorithms and Investment Strategies outlines theessential steps involved in using a GA and shows how it mimicsnature's evolutionary process by moving quickly toward anear-optimal solution. Introduced to advanced variations ofessential GA procedures, readers soon learn how GAs can be usedto: * Solve large, complex problems and smaller sets of problems * Serve the needs of traders with widely different investmentphilosophies * Develop sound market timing trading rules in the stock and bondmarkets * Select profitable individual stocks and bonds * Devise powerful portfolio management systems Complete with information on relevant software programs, a glossaryof GA terminology, and an extensive bibliography coveringcomputerized approaches and market timing, Genetic Algorithms andInvestment Strategies unveils in clear, nontechnical language aremarkably efficient strategic decision-making process that, whenimaginatively used, enables traders and investment analysts to reapsignificant financial rewards.

Author : Jonathan Nitzan,Shimshon Bichler
Publisher : Routledge
Page : 853 pages
File Size : 40,7 Mb
Release : 2009-06-02
Category : Political Science
ISBN : 9781134022298

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Capital as Power by Jonathan Nitzan,Shimshon Bichler Pdf

Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an ‘economic’ entity that they count in universal units of ‘utils’ or ‘abstract labour’, respectively. But these units are totally fictitious. Nobody has ever been able to observe or measure them, and for a good reason: they don’t exist. Since liberalism and Marxism depend on these non-existing units, their theories hang in suspension. They cannot explain the process that matters most – the accumulation of capital. This book offers a radical alternative. According to the authors, capital is not a narrow economic entity, but a symbolic quantification of power. It has little to do with utility or abstract labour, and it extends far beyond machines and production lines. Capital, the authors claim, represents the organized power of dominant capital groups to reshape – or creorder – their society. Written in simple language, accessible to lay readers and experts alike, the book develops a novel political economy. It takes the reader through the history, assumptions and limitations of mainstream economics and its associated theories of politics. It examines the evolution of Marxist thinking on accumulation and the state. And it articulates an innovative theory of ‘capital as power’ and a new history of the ‘capitalist mode of power’.

Author : Dimitris N. Chorafas
Publisher : Unknown
Page : 382 pages
File Size : 48,9 Mb
Release : 1995
Category : Chaotic behaviour in systems
ISBN : 8121909589

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Chaos Theory In The Financial Markets by Dimitris N. Chorafas Pdf

Author : Walter Mattli
Publisher : Princeton University Press
Page : 264 pages
File Size : 47,6 Mb
Release : 2021-06-08
Category : Business & Economics
ISBN : 9780691216867

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Darkness by Design by Walter Mattli Pdf

"Capital markets have undergone a dramatic transformation in the past two decades. Algorithmic high-speed supercomputing has replaced traditional floor trading and human market makers, while centralized exchanges that once ensured fairness and transparency have fragmented into a dizzying array of competing exchanges and trading platforms. Darkness by Design exposes the unseen perils of market fragmentation and 'dark' markets, some of which are deliberately designed to enable the transfer of wealth from the weak to the powerful. Walter Mattli traces the fall of the traditional exchange model of the NYSE, the world's leading stock market in the twentieth century, showing how it has come to be supplanted by fragmented markets whose governance is frequently set up to allow unscrupulous operators to exploit conflicts of interest at the expense of an unsuspecting public. Market makers have few obligations, market surveillance is neglected or impossible, enforcement is ineffective, and new technologies are not necessarily used to improve oversight but to offer lucrative preferential market access to select clients in ways that are often hidden. Mattli argues that power politics is central in today's fragmented markets. He sheds critical light on how the redistribution of power and influence has created new winners and losers in capital markets and lays the groundwork for sensible reforms to combat shady trading schemes and reclaim these markets for the long-term benefit of everyone. Essential reading for anyone with money in the stock market, Darkness by Design challenges the conventional view of markets and reveals the troubling implications of unchecked market power for the health of the global economy and society as a whole"--

Author : Elhadj Zeraoulia
Publisher : CRC Press
Page : 742 pages
File Size : 51,9 Mb
Release : 2011-09-07
Category : Mathematics
ISBN : 9781439883402

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Models and Applications of Chaos Theory in Modern Sciences by Elhadj Zeraoulia Pdf

This book presents a select group of papers that provide a comprehensive view of the models and applications of chaos theory in medicine, biology, ecology, economy, electronics, mechanical, and the human sciences. Covering both the experimental and theoretical aspects of the subject, it examines a range of current topics of interest. It consid

Author : Giovanni Arrighi
Publisher : U of Minnesota Press
Page : 352 pages
File Size : 49,6 Mb
Release : 1999
Category : Political Science
ISBN : 0816631522

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Chaos and Governance in the Modern World System by Giovanni Arrighi Pdf

Adopting an historical approach, explores four controversies facing global analyses today: the geography of world power, the power of states versus the power of capital, the social power of subordinate groups, and the changing balance of civilizational power.

Author : Richard M. A. Urbach
Publisher : Financial Times/Prentice Hall
Page : 362 pages
File Size : 47,6 Mb
Release : 2000
Category : Business & Economics
ISBN : UOM:39015049638011

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Footprints of Chaos in the Markets by Richard M. A. Urbach Pdf

Price movements in financial markets are not random. There are actually clues that allow sophisticated investors to uncover trends and make accurate predictions. The key to discovering this predictability lies in a new set of mathematical techniques --the application of dynamic, non-linear time series. This new science of investment is where chaos theory meets the markets. Richard Urbach offers practical advice and applications on the latest mathematical techniques and examines the opportunities these new techniques can deliver.

Author : Michael Gayed,Michael E. S. Gayed
Publisher : Createspace Independent Publishing Platform
Page : 0 pages
File Size : 41,5 Mb
Release : 1990-10-15
Category : Business enterprises
ISBN : 1481959611

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Intermarket Analysis and Investing by Michael Gayed,Michael E. S. Gayed Pdf

This eye-opening book brings together today's most relied upon tools of market analysis. Michael E.S. Gayed clearly explains how this powerful combination of major schools of thought of market analysis can help investors dramatically improve their judgment on likely market performance and spot important trends, thereby making successful investment decisions. Intermarket Analysis and Investing begins with an overview of investment analysis that examines types of risk and portfolio structuring. Then it moves on to the three prominent schools of thought in market analysis with discussions of: - Economic analysis, which is primarily concerned with the state of business, and anticipates phases of economic expansion and contraction by focusing on economic indicators - Fundamental analysis, the most widely followed and practiced form of analysis, it looks at the accounting and financial position of companies in an attempt to evaluate intrinsic worth and true stock value - Technical analysis or the market-timing school, practiced by "believers in the supremacy of trend analysis," and followers of the ticker tape. It is primarily concerned with the dynamics behind the fluctuation in the price of a stock This book also examines the positive aspects and pitfalls to contrarian investing, top-down and bottom-up market approaches, comparative market analysis, and common-sense trend analysis. By integrating economic, fundamental, and technical quantitative analysis into a sensible working framework, Intermarket Analysis and Investing exposes the inherent short-comings of relying too heavily or exclusively on any single approach. Each school of stock market analysis is thoroughly examined so that the reader can understand each approach and how it interacts with the others. Part II stresses the economic by analyzing the most important aspects of the business cycle, the Fed's role in managing the balance of inflation and unemployment, and factors investors should watch to tame market risk and minimize loss during downtrends. It is here that the importance of economic indicators is emphasized, with an in-depth discussion of the 11 leading indicators that monitor the economy and help the investor anticipate long-term business trends, the four coincident indicators that help verify the predictability of the leading indicators, and the lagging indicators that help spot emerging structural trends. Part III discusses the use of fundamental analysis, which compares the growth and finances of different securities and industry groups. It shows how earnings, sales, book value, P/E multiples, leverage, liquidity, and/or profitability of companies are used to reveal the worth of a security as an investment. The commodities market and the effect of globalization of securities markets are also examined. Part IV shows how quantitative market analysis aids active investors in determining the short-or immediate-term direction of stocks. Intermarket Analysis and Investing shows how to improve investment decisions by integrating the best features of fundamental analysis and some well-known market timing techniques described and illustrated in this section. The final section of the book provides insightful investment strategies that are based on the intermarket relationships previously discussed. By integrating the methods described in detail in this book, investors stand a much better chance of profiting from market opportunities and of achieving their objectives.

Author : Justine Gregory-Williams,Bill M. Williams
Publisher : John Wiley & Sons
Page : 259 pages
File Size : 48,6 Mb
Release : 2012-06-28
Category : Business & Economics
ISBN : 9780470586273

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Trading Chaos by Justine Gregory-Williams,Bill M. Williams Pdf

How to trade the markets by integrating Chaos Theory with market sentiment In the first edition of Trading Chaos, seasoned trader and psychologist Bill Williams detailed the potential of Chaos Theory-which seeks to make the unpredictable understandable-in trading and it revolutionized financial decision-making. The Second Edition of Trading Chaos is a cutting edge book that combines trading psychology and Chaos Theory and its particular effect on the markets. By examining both of these facets in relation to the current market, readers will have the best of all possible worlds when trading. Bill Williams, PhD, CTA (Solana Beach, CA), is President of Profitunity.com, a leader in the field of education for traders and investors. Justine Gregory-Williams (Solana Beach, CA) is President of the Profitunity Trading Group and a full-time trader.

Author : Guangxi Cao,Ling-Yun He,Jie Cao
Publisher : Springer
Page : 255 pages
File Size : 49,9 Mb
Release : 2018-02-18
Category : Business & Economics
ISBN : 9789811079160

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Multifractal Detrended Analysis Method and Its Application in Financial Markets by Guangxi Cao,Ling-Yun He,Jie Cao Pdf

This book collects high-quality papers on the latest fundamental advances in the state of Econophysics and Management Science, providing insights that address problems concerning the international economy, social development and economic security. This book applies the multi-fractal detrended class method, and improves the method with different filters. The authors apply those methods to a variety of areas: financial markets, energy markets, gold market and so on. This book is arguably a systematic research and summary of various kinds of multi-fractal detrended methods. Furthermore, it puts forward some investment suggestions on a healthy development of financial markets.