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on October 10, 1999
The author is obviously in way over his head. This pathetic mockery of game theory is filled with errors. I'll only present the two most egregious ones:1.Incredibly, the author doesn't seem to realize that the probability of a major adversity (as defined in the book) is greater than or equal to the probabilty of a minor adversity. This restricts the applicable section of his model.2.The slope for determining profitable trades (according to the author's model) is given by (w+x)/(y-x). By choosing x arbitrarily close to y the slope can be infinite.Conditions 1 and 2 imply that a profitable trade on any and all stocks can be made under any market conditions with no risk whatsoever.This inept, incompetent book is so bad that it casts doubt upon the entire line of technical books from Wiley and Sons and their editorial process.
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on December 27, 1998
The author confuses game theory with decision theory. The model has nothing related with game theory in it. The author defines the whole market as a game between the speculator and the remaining market, but does not take the remaining market's (the second player's) utility into consideration. Therefore the market's strategies are not utility-dependent but history-dependent which contradicts with the notion of game theory. This makes the model a simple choice selection of the speculator from just two alternatives faced with a market-move guess, not an equilibrium analysis as should be in a game-theoretic approach. Simply DO NOT WASTE YOUR MONEY by buying this book, and if you don't know much about game theory, don't read this book even if it was for free as you will misunderstand what game theory is.
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on October 26, 2003
I waste my time to read this book which I borrowed from library. Anyone who trade more than six months will find nothing valuable in the book. I am surprised that John Wiley & Sons, which has a lot good books on trading and finace, would publish this book.
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