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Financial Theories and Strategies
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Financial Theories and Strategies FIN554 May 31, 2005 Financial Theories and Strategies As financial managers survey the landscape of forecasting, investing, budgeting, etc. they find a multitude of financial theories. Some theories seem more plausible than others. Over the years financial theories are born, refined, and redefined to represent an ever-changing financial environment. Here are only a few financial theories how they relate to short-term and long-term financial strategies. Random Walk Theory Random Walk gained popularity when author and investor Burton Malkiel wrote a book called A Random Walk Down Wall Street. Random walk is a stock market theory that states that the past movement or direction of the price of a stock or overall market cannot be used to predict its future movement. In short, random walk is the idea that stocks take a random and unpredictable path. A follower of the random walk believes it is impossible to outperform the market without...
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