%0 Journal Article
%T About stock markets predictability
%A Hicham Benjelloun
%J Journal of Economics and Behavioral Studies
%D 2011
%I International Foundation for Research and Development (IFRD)
%X We argue that the financial markets have a predetermined outcome. They behave deterministically but appear to follow random patterns. Stock prices have nothing to do with future expectations; they are a reflection of previous convictions coming from the confident investors. A financial crisis is the result of the lack of confidence that characterizes a market moments before the crisis. Stocks returns are perfectly correlated to each other and it is possible to obtain high gains consistently. Finally we provide a different way of assessing risk and suggest a method to sense future performances.
%K Stock
%K Market
%K Predictability
%K Confidence
%K Investors
%U http://www.ifrnd.org/JEBS/2(1)%20Jan%202011/About%20stock%20markets_predictability.pdf