Richard Arnold Epstein - Random Quotes

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Against human opposition the machine usually emerges victorious, since individual patterns tend to be not random but a function of emotions and previous training and experience.

Richard Arnold Epstein

While no rigorous proof of an optimal strategy has been achieved, Robbins has proposed the principal of "staying on a winner" and has shown it to be uniformly better than a strategy of random selection.

Richard Arnold Epstein

A weakness of the random-walk model lies in its assumption of instantaneous adjustment, whereas the information impelling a stock market toward its "intrinsic value" gradually becomes disseminated throughout the market place.

Richard Arnold Epstein