Adaptive Markets
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What’s it about?
A radical new theory of finance that replaces the physics-inspired Efficient Market Hypothesis with a biology-based model of evolution, adaptation, and survival—explaining bubbles, crashes, and irrational behavior as natural outcomes of a changing ecosystem.
You’ll learn
- Markets are ecosystems, not machines
- Investors are satisficers, not rational
- Strategies fail when environments change
- Emotions are evolutionary survival tools