Oct 19, 2020 00:55
3 yrs ago
8 viewers *
English term
random walk theory
GBK
English to Japanese
Bus/Financial
Economics
Definition from
The Economist:
Also random walk hypothesis. Impossible to predict the next step. efficient market theory says that the prices of many financial assets, such as shares, follow a random walk. In other words, there is no way of knowing whether the next change in the price will be up or down, or by how much it will rise or fall. The reason is that in an efficient market, all the information that would allow an investor to predict the next price move is already reflected in the current price. This belief has led some economists to argue that investors cannot consistently outperform the market. But some economists argue that asset prices are predictable (they follow a non-random walk) and that markets are not efficient.
Example sentences:
The most well-known practical example of random walk theory occurred in 1988 when the Wall Street Journal sought to test Malkiel's theory by creating the annual Wall Street Journal Dartboard Contest, pitting professional investors against darts for stock-picking supremacy. (Investopedia)
The random walk hypothesis has merit in dissuading investors from trying to make guesses about short-term stock movements. However, many long-term investors still manage to invest well by putting time on their side. (The Motley Fool)
Malkiel and the random walk theory provide considerable support to the intimidated individual investor, but Malkiel in particular encourages investors to understand the theories and investment methods that the random walk theory challenges. (Investing Answers)
Proposed translations
(Japanese)
| 5 +2 | ランダム・ウォーク理論 |
Haruto Takashima
|
Change log
Oct 2, 2020 23:53: changed "Kudoz queue" from "In queue" to "Public"
Oct 19, 2020 00:55: changed "Stage" from "Preparation" to "Submission"
Oct 22, 2020 01:56: changed "Stage" from "Submission" to "Selection"
Oct 23, 2020 05:54: changed "Stage" from "Selection" to "Completion"
Proposed translations
+2
3 days 11 hrs
Haruto Takashima
Japan
Japan
Japan
Iris Localize - Linguist Lead
Native in: Japanese (Variant: Standard-Japan) 
Works in: English to Japanese, Japanese to English
Related KudoZ points
:
4
Selected
ランダム・ウォーク理論
中黒なしの「ランダムウォーク」とする場合もあるが、日系大手証券会社である野村證券および大和証券が提供するオンライン用語集では、両社とも「ランダム・ウォーク」としている。また、金融業界で認知度が高い書籍タイトル『ウォール街のランダム・ウォーカー』（バートン・マルキール著）でも中黒が使用されている。以上の理由から、中黒ありが一般的であろうと判断し、「ランダム・ウォーク理論」とした。
Definition from
野村證券 証券用語解説集:
金融商品の値動きには規則性が無く、過去の変動とは一切関係ないとする仮説。
Example sentences:
数学的に厳密なランダム・ウォークであれば長期的にも上昇と下降の可能性は同じになり、株式投資は値上がり益が期待できないことになるが、株価における<b>ランダム・ウォーク理論</b>は、（著名なランダム・ウォーク論者である：バートン・マルキール（英語版）の論を含めて）長期的には株価は上昇する可能性の方が高いことを前提としており、インデックスファンド投資への理論武装として語られるのが一般的である。 (Wikipedia)
4 KudoZ points awarded for this answer.
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