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ln the course of my research for my Masters in business administration, I looked deeply into the efficient market hypothesis and the random walk theory. After looking at these theories and their bases, I began to uncover discrepancies between these theories and how the markets are really influenced. The etfficient market hypothesis promotes the idea that rational investors drive the markets; my research into this theory revealed that nothing could be further from the truth.
lt quickly became clear to me that the best approach to use to explain market behavior was the chaos theory. When studying chaos theory, l explored the dynamic systems theory and realized that the markets were really a dynamic system driven hy certain internal characteristics, which I call internal dynamics. At the same time, my research also led me into the world of behavioral finance. This field was relatively new at the time, yet it provided plausible explanations fpr market behavior that complimented my research of such behavior using the chaos theory....

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