Alex Preda (Author of Framing Finance)
A Revolution Is underway: Stock markets, Oil, Bonds - Adventures In Finance Ep. 65 - Real Vision™
Noise: Living and Trading in Electronic Finance
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National Library of Australia. Search the catalogue for collection items held by the National Library of Australia. Preda, Alex. Noise : living and trading in electronic finance. Request this item to view in the Library's reading rooms using your library card.
To cite this article: Crawford Spence () Noise: Living and Trading in Electronic Finance, by. Alex Preda, Journal of Cultural Economy, , , DOI: / conventional wisdom suggests that retail trading is less meaningful than professional.
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Over the past 40 years, there has been a profound revival of economic sociology. SSSI members can read the review by clicking on the image below. You are commenting using your WordPress. You are commenting using your Google account. You are commenting using your Twitter account. You are commenting using your Facebook account.
By Alex Preda. Chicago: University of Chicago Press, In this brilliant study, Professor Alex Preda extends our understanding of the sociological significance of "noise trading," an important concept in financial economics advanced by Fischer Black in the s. Black's term was used to describe the activities of a large mass of retail traders who typically lacked access to reliable information and depended instead on uncertain data to guide their speculative activities. In spite of such limitations, Black believed noise traders were essential because they provided liquidity to the market and thus facilitated its basic price discovery function. What was puzzling was the persistence of noise trading in spite of its poor record of profitable transacting, and the disadvantages the noise traders experienced in competing with the better informed and financed traders working at the larger financial houses.