+44 (0)1730 233870        Email: bookshop@harriman-house.com
basket
logo

UK's leading independent publisher of finance,
trading and investment books

  • Home
  • >
  • The Myth of the Rational Market


Cover of The Myth of the Rational Market by Justin Fox

The Myth of the Rational Market

A History of Risk, Reward, and Delusion on Wall Street

By: Justin Fox Format(s): Hardback ISBN(s): 9781906659691 Published: 18 January 2010 Edition: 1st
SKU(s): 443961


  
 
RRP £18.99 Our Price ££16.14
Buy Hardback
Change Currency
Non-UK prices are provided as a guide and may differ from the exact amount billed.
  • Chronicling the rise and fall of the efficient market theory and the century-long making of the modern financial industry, Justin Fox's "The Myth of the Rational Market" is as much an intellectual whodunit as a cultural history of the perils and possibilities of risk. The book brings to life the people and ideas that forged modern finance and investing, from the formative days of Wall Street through the Great Depression and into the financial calamity of today. It's a tale that features professors who made and lost fortunes, battled fiercely over ideas, beat the house in blackjack, wrote bestselling books, and played major roles on the world stage. It's also a tale of Wall Street's evolution, the power of the market to generate wealth and wreak havoc, and free market capitalism's war with itself.

    The efficient market hypothesis - long part of academic folklore but codified in the 1960s at the University of Chicago - has evolved into a powerful myth. It has been the maker and loser of fortunes, the driver of trillions of dollars, the inspiration for index funds and vast new derivatives markets, and the guidepost for thousands of careers. The theory holds that the market is always right, and that the decisions of millions of rational investors, all acting on information to outsmart one another, always provide the best judge of a stock's value. That myth is crumbling.

    Celebr...
  • Introduction: It Had Been Working So Exceptionally Well

    EARLY DAYS

    1. Irving Fisher Loses His Briefcase, and Then His Fortune
    The first serious try to impose reason and science upon the market comes in the early decades of the twentieth century. It doesn't work out so well.

    2. A Random Walk from Fred Macaulay to Holbrook Working
    Statistics and mathematics begin to find their way into the economic mainstream in the 1930s, setting the stage for big changes to come.

    THE RISE OF THE RATIONAL MARKET

    3. Harry Markowitz Brings Statistical Man to the Stock Market
    The modern quantitative approach to investing is assembled out of equal parts poker strategy and World War II gunnery experience.

    4. A Random Walk from Paul Samuelson to Paul Samuelson
    The proposition that stock move...
 
Media Coverage

The Bahrain Banker

The Myth of the Rational Market - A History of Risk, Reward and Delusion on Wall Street, by Justin Fox

Markets are inefficient in pricing and pundits who propounded the efficient market hypothesis...

Read more

Bloomberg

“The Myth of the Rational Market” by Justin Fox (HarperBusiness/Harriman) makes Bloomberg's Top 50 Business Books.

Read more

The Economist

In a similar vein, “The Myth of the Rational Market”, by Justin Fox, argues that the whole crisis was the result of an idea that failed: that markets are rational and efficient. Mr Fox provides a...

Read more

Share Crazy

In the Myth of the Rational Market author Justin Fox, the business and economics columnist for Time magazine, explains why one of the most popular financial theories of the late 20th century is, as...

Read more

Fool.com

Justin Fox takes part in the 'Live Blog: The Motley Fool's 2011 Investing Conference'- The Motley Fool22nd September 2011

Read more

Spokesmanbooks.com

The Myth of the Rational Market was featured in The Journal of Economic Literature - January 2011

Read more

Banksbahrain.org

"Appealing to experts and non-practitioners alike....[the book is a] fascinating narrative of financial history...does much to dispel the myth surrounding financial markets."- Bahrain BankerAutumn...

Read more

Seekingalpha.com

Justin Fox Talks Efficient Market Theory, Flash Crash and Benjamin Graham Value InvestingSeeking alpha26th August 2010

Read more

Economist.com

How inequality fueled the crisisThe Economist26th August 2010

Read more

Voices.washingtonpost.com

"An excellent book."Washington Post20th August 2010

Read more

Guardian.co.uk

The Guardian Business Podcast - The Business: £6bn of penny pinching: Aditya Chakrabortty and guests discuss the impact of the government's £6.2bn spending cuts on the private sector, Justin Fox...

Read more

Bloomberg.com

Top 50 Business Books - ‘Animal Spirits’ to ‘What the Dog Saw’- Bloomberg3rd May 2010

Read more

Economist.com

Post Crisis Reading - Our reviews of the best books on the financial crisis and its aftermath- The Economist29th April 2010

Read more

Video.economist.com

Justin Fox on the irrational marketThe author of The Myth of the Rational Market discusses the implications of maintaining last century's assumptions- The EconomistMarch 2010

Read more

Ft.com

Cultural change is key to bank reform- Justin Fox Financial Times26th March 2010

Read more

News.bbc.co.uk

Justin was a guest on BBC Radio 4's Today programme20th March 2010

Read more

Sharecrazy.com

an entertaining and informative read which can be enjoyed by anyone from an economics student to a private investor- Sharecrazy12th March 2010

Read more

Blog.iii.co.uk

How markets fail and myth of the rational market- Interactive Investor17th February 2010

Read more

Fool.co.uk

The Next Crash: David Kuo is joined by Justin Fox. In this week's MoneyTalk podcast, they touch on an emotional explanation for boom-and-bust cycles, look at sunspots through the eyes of William...

Read more

Media Review

Its value lies in Justin Fox's lucid description of the development of financial economics in the last century.- Financial World2nd February 2010

Read more

Media Review

Where the book serves best is in its reminder that each generation of investors and regulators has, it seems, to learn the lesson that financial markets are devilish things, driven by false theories...

Read more

Ft.com

The Myth of the Rational Market is one of the FT's best business books of 2009.- FT4th December 2009

Read more

Nytimes.com

The Myth of the Rational Market is one of The New York Times' 100 Notable Books of 2009.

Read more

Amazon.com

Best Business Book of 2009- Amazon.com5th November 2009

Read more

If you'd like to get in touch with the author for interview or comment, or you'd like a review copy of this product, please contact us at pr@harriman-house.com or call +44 (0)1730 233885.
Discounts for bulk purchases and there are premium editions available. Please contact specialsales@harriman-house.com for a quote.
Rights
For information on available rights, please contact rights@harriman-house.com

Site Designed and built by Fantata

Connecting you to our customer service team

Please wait...
Enter your email address to receive your free ebook

By requesting this free eBook, you agree to let us email you
about future Harriman House offers. We will not sell your details
to a third party and you can unsubscribe at any time.