Maybe we should teach schoolchildren probability theory and investment risk management. Andrew Lo investmentmanagementprobability Change image and share on social
What makes this story so remarkable is that throughout my early childhood I had ongoing learning difficulties, particularly in mathematics. I struggled to learn the multiplication table, and no matter how hard I tried, I simply couldn't remember 6 times 7 or 7 times 8. Andrew Lo childhooddifficultyearly share on social
The adaptive markets hypothesis says that all economic institutions, like our own species, develop and change over time, depending on the population of investors that are engaged with them. Andrew Lo adaptivechangedepend Change image and share on social
Most people are overconfident about their own abilities. That is probably a good thing. But we would be horrified if a physician's aide engaged in heart surgery. Andrew Lo abilityaideengage Change image and share on social
Cancer is the great equalizer. Everyone is affected by it either themselves or through loved ones. Andrew Lo affectcancerequalizer Change image and share on social
More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient, even in the United States. It does mean that there is more access for savvy investors who watch the money flows. Andrew Lo accesscomeefficient share on social
If you rank the top 50 one-day moves in the S&P 500, a fair number of those happened within the last five or 10 years. That tells you that we're in a different, riskier market now. Andrew Lo dayfairhappen Change image and share on social
If troubled companies want to explain away 2008 as a 'black swan,' then someone should take responsibility for creating the oil slick that seems to have tarred the entire flock! Andrew Lo blackcompanycreate Change image and share on social
While neurological studies have tried to identify components responsible for fear and greed, the impact on finance is less clear. Andrew Lo clearcomponentfear Change image and share on social
Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality. Andrew Lo complexconceitcrisis Change image and share on social
