Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality. — Andrew Lo Copy Share Image
Economists suffer from a deep psychological disorder that I call 'physics envy'. We wish that 99 percent of economic behavior could be captured by… — Andrew Lo Copy Share
My mother died of lung cancer last year. I felt helpless. As an economist, I thought, 'What can I do?' — Andrew Lo Copy Share
Most people are overconfident about their own abilities. That is probably a good thing. But we would be horrified if a physician's aide engaged… — Andrew Lo Copy Share
Cancer is the great equalizer. Everyone is affected by it either themselves or through loved ones. — Andrew Lo Copy Share
While neurological studies have tried to identify components responsible for fear and greed, the impact on finance is less clear. — Andrew Lo Copy Share
Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may… — Andrew Lo Copy Share
Great investors need to have the right combination of intuition, business sense and investment talent. — Andrew Lo Copy Share
During periods of extreme fear or greed, you don't have the proper balance between those two to generate market efficiency and you get extremes… — Andrew Lo Copy Share
If you rank the top 50 one-day moves in the S&P 500, a fair number of those happened within the last five or 10… — Andrew Lo Copy Share
More and more investors may be coming into markets everywhere but that doesn't mean that the markets are really getting more and more efficient,… — Andrew Lo Copy Share
Financial crises are an unfortunate but necessary consequence of modern capitalism. — Andrew Lo Copy Share
If troubled companies want to explain away 2008 as a 'black swan,' then someone should take responsibility for creating the oil slick that seems… — Andrew Lo Copy Share
The adaptive markets hypothesis says that all economic institutions, like our own species, develop and change over time, depending on the population of investors… — Andrew Lo Copy Share
