Maybe we should teach schoolchildren probability theory and investment risk management. Andrew Lo investmentmanagementprobability Change image and share on social
Financial crises are an unfortunate but necessary consequence of modern capitalism. Andrew Lo capitalismconsequencecrisis 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
It's important to understand how people perceive risk, and how that translates into investment behavior. Andrew Lo behaviorimportantinvestment Change image and share on social
I don't entirely reject the idea of efficient markets. It needs updating. Andrew Lo efficientideamarket 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
The United States has the most sophisticated financial markets in the world, which does not leave much room to maneuver. But it also offers investors the greatest access to information and the ability to execute trades quickly and efficiently. So it is a mixed bag of opportunity. Andrew Lo abilityaccessbag share on social
During periods of extreme fear or greed, you don't have the proper balance between those two to generate market efficiency and you get extremes in behavior. Andrew Lo balancebehaviorefficiency Change image and share on social
Great investors need to have the right combination of intuition, business sense and investment talent. Andrew Lo businesscombinationgreat Change image and share on social
