Random Walk Quotes

An active line on a walk, moving freely, without goal. A walk for a walk's sake.

One of the things that I hope will distinguish Amazon.com is that we continue to be a company that defies easy analogy. This requires a lot of innovation, and innovation requires a lot of random walk.

The efficient market theory is one of the better models in the sense that it can be taken as true for every purpose I can think of. For investment purposes, there are very few investors that shouldn't behave as if markets are totally efficient.

Alan White and I spent the next two or three years working together on this. We developed what is known a stochastic volatility model. This is a model where the volatility as well as the underlying asset price moves around in an unpredictable way.

I like Burton Malkiel's 'A Random Walk Down Wall Street.' He comes to the same conclusion that I do - that indexing is the way. My 'Little Book of Common Sense Investing' says pretty much the same thing.

The strategic marketing paradigm of Open Source is a massively-parallel drunkard's walk filtered by a Darwinistic process.

Thers is this wonderful iconoclast at Rutgers, Doron Zeilberger, who says that our mathematics is the result of a random walk, by which he means what WE call mathematics. Likewise, I think, for the sciences.

I would be lying, however, if I claimed that I could always formulate worthwhile hypotheses on the basis of my theoretical framework. Sometimes there were no reflexive processes to be found; sometimes I failed to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested without a worthwhile hypothesis and my activities were not very different from a random walk.