In defense of fundamental analysis: A critique of the efficient market hypothesis

Review of Austrian Economics

Volumn 10, Issue 2, 1997, Pages 27-45

  Shostak, Frank ^a  

^a Ord Minnett Jardine Fleming Futures ^*  (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 53249155222     PISSN: 08893047     EISSN: None     Source Type: Journal    
DOI: 10.1007/BF02538483     Document Type: Article

References (29)

1. For a review and critique of the relevant literature, see E.G. Pasour, Jr., "The Efficient-Market Hypothesis and Entrepreneurship," 'Review of Austrian Economics 3 (1989): 95-107.
2. Horace W Brock and Jeffrey A. Frankel, "Review of the Efficient Market Hypothesis," Strategic Economic Design (November 1991).
3. Strategic Economic Design Ibid.
4. Burton G. Malkiel, A Randorn Walk Down Wallstreet (New York: WW Norton, 1985), p. 194.
5. A Randorn Walk Down Wallstreet Ibid.
6. Hans-Hermann Hoppe, "On Certainty and Uncertainty, or: How Rational Can Our Expectations Be?" Review of Austrian Economics 10, no. 1 (1997): 49-78.
7. Pisour, "The Efficient-Market Hypothesis and Entrepreneurship," pp. 95-96.
8. Ludwig von Mises, Human Action (Chicago: Contemporary Books, 1963), p. 520.
9. Murray N. Rothbard, Man, Economy, and State (Los Angeles: Nash), vol. 2, p. 466.
10. Mises, Human Action, pp. 809-10.
11. Mises, Human Action Ibid., p. 810.
12. Mises, Human Action Ibid., pp. 517-18.
13. Mises, Human Action Ibid., p. 300.
14. Mises, Human Action Ibid., p. 299.
15. Andrei Shleifer and Lawrence H. Summers, "The Noise Trader Approach to Finance," Journal of Economic Perspectives 4, no. 2 (Spring 1990): 19-33.
16. Robert J. Shiller, "Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence" (Cambridge, Mass.: NBER Working Paper No. 2446, 1987).
17. Malkiel, A Random Walk Down Wall Street, p. 218.
18. O. Blanchard and M. Watson, "Bubbles, Rational Expectations and Financial Markets," Crisis in the Economic and Financial Structure, P. Wachtel, ed. (Lexington, Mass.: Lexington Books, 1982).
19. Tro Kortian, "Modern Approaches to Asset Price Formation: A Survey of Recent Theoretical Literature," Research Discussion Paper 9501 (Reserve Bank of Australia, March 1995).
20. George Reisman, The Government Against the Economy (Ottawa, Ill.: Jameson Books, 1985), p. 5.
21. Murray N. Rothbard, "Economic Depressions: Their Cause and Cure," The Austrian Theory of the Trade Cycle and Other Essays (Auburn, Ala.: Ludwig von Mises Institute, 1996), p. 23.
22. Mises, Human Action, pp. 538-86.
23. Mises, Human Action, Ibid., p. 505.
24. Rothbard, Man, Economy, and State, p. 501.
25. Mises, Human Action, p. 871.
26. Hans-Hermann Hoppe, Praxeology and Economic Science (Auburn, Ala.: Ludwig von Mises Institute, 1995), p. 41.
27. Jörg Guido Hülsmann, "Knowledge, Judgment, and the Use of Property," Review of Austrian Economics 10, no. 1 (1997): 23-48.
28. Hoppe, "On Certainty and Uncertainty": 65.
29. Hoppe, Praxeology and Economic Science, p. 42.