Chapter 4

1 “Shiller used the phrase during testimony before the Federal Reserve, and Alan Greenspan repeated it in his famous December 1996 speech.” (Interview of Professor Shiller by Chris Rugaber, Motley Fool [], April 11, 2001). The apparent origin of the phrase, however, goes back to Hamilton (1922).

2 Many tests of technical trading strategies conducted before the mid-1980s focused on only one or two trading systems, did not test for statistical significance of trading profits, and did not correctly address issues of risk.

Chapter 7

1 It has long been thought that most options expire worthless, indicating that most people purchasing options have incorrectly predicted the direction of market moves. However, recent research ...

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