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For over half a century, financial experts have regarded the movements of markets as a random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this hypothesis has become a cornerstone of modern financial economics and many investment strategies. Here Andrew W. Lo and A. Craig MacKinlay put the Random Walk Hypothesis to the test. In this volume, which elegantly integrates their most important articles, Lo and MacKinlay find that markets are not completely random after all, and that predictable components do exist in recent stock and bond returns. Their book provides a state-of-the-art account of the techniques for detecting predictabilities and evaluating their statistical and economic significance, and offers a tantalizing glimpse into the financial technologies of the future. The articles track the exciting course of Lo and MacKinlay's research on the predictability of stock prices from their early work on rejecting random walks in short-horizon returns to their analysis of long-term memory in stock market prices. A particular highlight is their now-famous inquiry into the pitfalls of "data-snooping biases" that have arisen from the widespread use of the same historical databases for discovering anomalies and developing seemingly profitable investment strategies. This book invites scholars to reconsider the Random Walk Hypothesis, and, by carefully documenting the presence of predictable components in the stock market, also directs investment professionals toward superior long-term investment returns through disciplined active investment management.

In response to a recent surge of interest in Native American history, culture, and lore, Hippocrene brings you a concise and straightforward dictionary of the Navajo tongue. The dictionary is designed to aid Navajos learning English as well as English speakers interested in acquiring knowledge of Navajo. The largest of all the Native American tribes, the Navajo number about 125,000 and live mostly on reservations in Arizona, New Mexico, and Utah. Over 9,000 entries; A detailed section on Navajo pronunciation; A comprehensive, modern vocabulary; Useful, everyday expressions.

The German land of Hesse (Bundesland Hessen) is well known for its excellent wines (Rheinhessen), for its financial centre and for its airport (FrankfurtlMain). It is, unjustifiably, far less well known for its importance to thennoregulation. Within the small area of Bad Nauheim, Giessen and Marburg (in alphabetical order) a greater concentration of students of thenno regulation has been trained or worked or is working than probably in any other single area of Europe, if not the world. It is thus most appropriate to hold the Ninth International Symposium on the Pharmacology of Thennoregulation in Giessen, from August 7 to 12, 1994. The community of students of thennoregulation was extremely grateful that Professor Kurt Bruck and the lustus-Liebig-University of Giessen had extended this invitation. The same community was even more saddened that Kurt Bruck died on April 27, 1992 and thus could not participate in this event that had been planned to honour his achievements. As a small token of friendship and affection, the many friends of Kurt Bruck from all over the world who will participate in this event dedicate this symposium to the memory of Kurt Bruck. Another staunch friend, researcher of temperature regulation and supporter of this series of symposia died in October 1993: Professor Wilhelm Siegmund Feldberg. We feel fortunate to be able to start this volume with two brief infonnal and personal accounts of professors Bruck and Feldberg.

The notion of negation is one of the central logical notions. It has been studied since antiquity and has been subjected to thorough investigations in the development of philosophical logic, linguistics, artificial intelligence and logic programming. The properties of negation-in combination with those of other logical operations and structural features of the deducibility relation-serve as gateways among logical systems. Therefore negation plays an important role in selecting logical systems for particular applications. At the moment negation is a 'hot topic', and there is an urgent need for a comprehensive account of this logical key concept. We therefore have asked leading scholars in various branches of logic to contribute to a volume on "What is Negation?". The result is the present neatly focused collection of re search papers bringing together different approaches toward a general characteri zation of kinds of negation and classifications thereof. The volume is structured into four interrelated thematic parts. Part I is centered around the themes of Models, Relevance and Impossibility. In Chapter 1 (Negation: Two Points of View), Arnon Avron develops two characteri zations of negation, one semantic the other proof-theoretic. Interestingly and maybe provokingly, under neither of these accounts intuitionistic negation emerges as a genuine negation. J. Michael Dunn in Chapter 2 (A Comparative Study of Various Model-theoretic Treatments of Negation: A History of Formal Negation) surveys a detailed correspondence-theoretic classifcation of various notions of negation in terms of properties of a binary relation interpreted as incompatibility.

'Globalization and Health' offers analysis of serious global threats to health, the tools that can be used to evaluate these, and the agencies established to respond to them. This work gives an account of the successes and failures, as well as the challenges and opportunities of globalisation for public health.