Technical analysis continues to grow in popularity, attracting a devoted following among traders and investors, despite long-held skepticism among academics and practitioners. To find out why technical analysis draws such loyal fans, distinguished MIT finance professor Andrew Lo and research colleague Jasmina Hasanhodzic interviewed the experts who have defined the field.
In The Heretics of Finance, these pioneers tell the story behind their craft. In these lively and candid interviews, gurus such as Laszlo Birinyi, John Murphy, and Linda Raschke discuss the role of creativity, emotion, and intuition in their work, and offer insights into the patterns, strategies, and applications that contributed to their success.
1 Ralph J. Acampora
2 Laszlo Birinyi
3 Walter Deemer
4 Paul Desmond
5 Gail Dudack
6 Robert J. Farrell
7 Ian McAvity
8 John Murphy
9 Robert Prechter
10 Linda Raschke
11 Alan R. Shaw
12 Anthony Tabell
13 Stan Weinstein
14 Conviction: Countering the Skeptics and the Scoundrels
--The validity of technical analysis
--Acceptance by academics
--Sustaining confidence while sustaining losses
--Literature versus experience
--Hard and fast rules and proven theories
--Wider applications for technical analysis
--Proving the validity of technical analysis
15 The Evolution of Technical Analysis
--Evolution of the craft
--New indicators and patterns
--Computer software and the craft
--Computer-generated signals
--Hand-drawn charts
16 Luck, Astrology, and Other Unsanctioned Signs
--The role of luck in technical analysis
--Astrology and the credibility of the craft
--Elliott wave, Gann's postulates, and Fibonacci numbers
17 Creativity, Talent, and the Art of the Craft
--The Role of Creativity
--A talent for technical analysis
--Personality traits of the highly successful
--Hard work and dedication
--Analysis as art
18 The Challenge of Emotions
--Losing money
--Emotional interference
--Separating emotions from the work
19 The Path to Success
--Artificial intelligence
--The key to success
20 Favorite Patterns and Indicators
--Most and least reliable indicator
--Testing
--The effect of market conditions
--Indicative versus descript
References
Index
About Andrew Lo and Jasmina Hasanhodzic
Andrew W. Lo is the Harris & Harris Group Professor of Finance at the MIT Sloan School of Management and the director of MIT's Laboratory for Financial Engineering. His previous books include The Econometrics of Financial Markets, A Non-Random Walk Down Wall Street, and Hedge Funds: An Analytic Perspective. He is also the founder and chief scientific officer of AlphaSimplex Group, LLC, a quantitative investment management company based in Cambridge, Massachusetts.
Jasmina Hasanhodzic is a research scientist at AlphaSimplex Group, LLC, where she develops quantitative investment strategies and benchmarks, including the CS 130/30 Index. She received her PhD from MIT's Department of Electrical Engineering and Computer Science, where she proposed new methods for automating technical analysis and replicating hedge fund betas. Her work has appeared in the Journal Of Investment Management and Institutional Investor's Alpha magazine. A summa cum laude graduate of Yale College, Hasanhodzic is a recipient of a number of awards for academic excellence and a member of several honor societies, such as Sigma Xi, the Scientific Research Society.
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