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| PDF Title : | The Money Game |
|---|---|
| Total Page : | 250 Pages |
| Author: | Adam Smith |
| PDF Size : | 5.3 MB |
| Language : | English |
| Rights : | openroadmedia.com |
| PDF Link : | Available |
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The Money Game – by Adam Smith – Book
In support of the skeptics we can only look again at the premise, that the market is reasonably “efficient,” that it is a market where numbers of rational, profit-maximizing investors are competing. It may just be that investors even cold, austere, professional money managers-are not rational, or are not 100 percent rational.
It may be that they would rather have some profit and a feeling of the company than a maximum profit and a feeling of anxiety. The investor in the random-walk model is suspiciously Homo economicus, and we did wander among some who thought that Homo is not economic’s. ”There is nothing so disastrous,” said Lord Keynes, “as a rational investment policy in an irrational world.”
The Money Game – by Adam Smith PDF
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