Part two of a four-part series exploring the foundations of passive investing and the men who have brought it to global significance. Part two describes the Random Walk theory: the belief that share prices are not predictable as they are based on reaction to information that is being fed into the market completely randomly. The observations of Jules Regnault and Louis Bachelier in the late 19th century, built upon by figures such as Paul Samuelson and Burton Malkiel still hold true in our 21st century economy. Featuring contributions from Bernd Hanke, Prof Patricia Chelley-Steeley and Jeffrey Molitor.
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Very insightful info about Passive Investing Theory, Part 2: The Random Walk
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