Fedyk, Yuriy; Walden, Johan - Institute for Financial Research (SIFR) - 2007
Recent research has suggested that natural selection in financial markets may be a very slow process, taking hundreds … selection can be very efficient even when there is high market uncertainty. The speed of the natural selection process is a ….e., if it takes about 500 years with one stock, it takes about one year with 500 stocks. Thus, theoretically, natural …