标签存档： 美国代写被抓

代写被抓

在： , , ,

代写被抓

随机漫步理论认为，不可能持续打破市场，特别是在短期内，因为无法预测股票的价格。这本书的作者是一个随机漫步在华尔街的Malkiel，他声称分析师或专业顾问可以为投资组合增加一分钟或没有价值。作者认为，对投资、盈利预测和复杂图表模型的咨询服务是徒劳无益的。

代写被抓

作者Malkiel和Fama教授提供的关于random walk理论的理论为害怕的个人投资者提供了相当大的支持。然而，作者特别鼓励投资者了解随机漫步理论所面临的投资理论和投资技巧(DahiyaGaina, 2012)。因此，笔者主张对投资进行买入和持有策略，认为这是优化投资回报的最佳途径。

根据支持随机漫步理论和有效市场假说(EMH)的学者们的观点，股票的现有市场价格是复制完整的、可获取的信息，而证券的当前市场价格是其真实价值。这个想法对随机漫步理论很重要。如果目前的市场价格是股票实际价值的完美例证，那么没有分析可以洞察未来价格的变化(Dsouza和Mallikarjunappa, 2015)。

代写被抓

The random walk theory claims that it is not possible to constantly break the market, specifically in the short term, as it is not possible to anticipate the prices of stocks. The author of the book A Random Walk Down Wall Street Malkiel claims that the analysts or the professional advisors can add the minute or no value to the portfolios. According to the author, advisory services for the investment, earnings predictions and complex chart models are futile and useless.

代写被抓

The author Malkiel and the theory provided by Professor Fama regarding the random walk theory provide considerable support to the scared individual investor. However, the authors specifically encourage investors to be aware of the theories and techniques of investment that the random walk theory confronts (DahiyaGaina, 2012). Therefore, the author advocates the buy & hold strategy for the investment as he considered it as the best way to optimize the return on the investment.
According to the scholars who support random walk theory and efficient market hypothesis (EMH), the existing market price of a stock replicates the complete, accessible information, and the current market price of the security is its true value. The idea is significant for the random walks theory. If the present market price is a perfect illustration of the actual value of stock, then no analysis can deliver insight into where price will shift in the future(Dsouza and Mallikarjunappa, 2015).

 

 

美国代写被抓

在： , , , , , , , ,

美国代写被抓

尤金·法玛教授的这篇文章的主要主题是评估证券的未来价值，并认识到支持证券未来价格的因素。然而，总体而言，有两种理论来评估市场，并预测未来的安全价格(DahiyaGaina, 2012)。这两种理论分别是宪章理论和随机漫步理论。宪章理论建立在安全价格的先前行为之上。根据该理论，如果任何人都能有效地理解任何特定安全的价格变化的行为模式，那么个人从股票市场中获利的机会就会增加(Dsouza和Mallikarjunappa, 2015)。教授如何不支持宪章理论，相反，他提倡随机漫步理论。根据文章作者的观点，在证券市场上，由于证券市场价格的变化是独立的，所以之前的图表对于做出任何艰难的投资决策都是没有用的，这与过去的价格没有任何关系(Dunham, 2013)。因此，过去的安全价格不能用来预测未来的价格。

美国代写被抓

论文对当前金融文献的影响: 这篇论文已经写了将近50年了。然而，本文的理论和概念在当代股票市场上是有关联的，而目前研究这一特定问题的研究人员经常引用这篇文章的理论和原理。学者们正在研究这个问题(证券市场的行为和对未来价格的预测)，并对随机漫步理论(Echaust, 2014)提供了非常重要的意义。该理论认为，市场和证券价格是随机的，它们与过去的价格没有任何联系。证券的过去价格不能影响证券的未来价格。这一理论背后的主要思想是，安全价格的随机性使得人们试图识别价格模式以获取最新信息的好处。具体来说，该理论认为日常的安全价格是独立的(Gallander, 2008)。这意味着，这种势头在本质上并没有持续下去，而且对于任何特定股票的未来增长，都无法预测之前的盈利增长。

美国代写被抓

The main theme of the article by Professor Eugene F. Fama is to evaluate the future value of the security and to recognize the factors that support in predicting future price of the securities. However, in general, there are two theories that exist to evaluate the market and predict the future price of the security (DahiyaGaina, 2012). The two theories are the chartist theory and the random walks theory. The Chartist theory is founded on the previous behaviour of the security price. According to the theory, if anyone can be able to understand the behaviour pattern of the price change of any specific security efficiently, the chance of the individual to make the profit from the stock market is increased (Dsouza and Mallikarjunappa, 2015). How the Professor did not support the Chartist theory, instead he advocated for the random walks theory. According to the author of the article, the previous charts are not useful for making any tough investment decision in the stock market as the changing of the prices in the security market is independent, and this has not any connection with the past price (Dunham, 2013). Therefore, the past prices of the security cannot be used to predict the future price.

美国代写被抓

Impact of the paper on current financial literature: However, the paper has been written for almost fifty years. Still, the theories and concepts of the paper are relevant in the contemporary stock market, and the present researchers who work on this particular matter frequently used to refer the theories and principal of this article. The scholars are working in this matter (behaviour of security market and prediction of future price) and providing great importance to random walks theory (Echaust, 2014). The theory states that the markets as well as the security prices are random and they do not have any connection with the past price. The past prices of the security cannot influence the future price of the securities. The main idea behind this theory is that the randomness of security prices makes attempt for recognizing the price patterns to take benefits of latest information. Specifically, the theory argues that the day-to-day security prices are independent (Gallander, 2008). It means that the momentum does not persist in nature and the computation of the previous earning growth cannot be anticipated for future growth of any specific stock.