Adaptive Markets

Half of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe - and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics, and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew W. Lo cuts through this debate with a new framework.

The Adaptive Markets Hypothesis (AMH) presents a formal and systematic exposition of a new narrative about financial markets that reconciles rational investor behavior with periods of temporary financial insanity. In this narrative, intelligent but fallible investors learn from and adapt to randomly shifting environments. Financial markets may not always be efficient, but they are highly competitive, innovative, and adaptive, varying in their degree of efficiency as investor populations and the financial landscape change over time.

Feel like you could be sharper, calmer, and more in control—but don’t know where to start? This is it. Most people are running on stress, distraction, and guesswork. Adaptive Stoicism gives you a mental system that actually works—clear steps to stay focused, make better decisions, and stay steady under pressure.

When change requires you to challenge people's familiar reality, it can be difficult, dangerous work. Whatever the context - whether in the private or the public sector - many will feel threatened as you push though major changes. But as a leader, you need to find a way to make it work.

Adaptable takes us on a tour of the human body. In each chapter, we learn how our bodies navigate an uncertain world: how we grow and mature; how our brains develop and learn; how our hearts, lungs, and digestive systems deliver oxygen and nutrients; how we manage toxins, temperature, and water balance; how we move and reproduce; how our immune system keeps invaders at bay; and how we age and decline. Along the way, we learn how to take care of our remarkable bodies, and that the universe of healthy lifestyles is vast (we don’t need the latest fad diet or cleanse!).

Are you suffering from chronic fatigue, anxiety, digestive, or autoimmune issues? Or are you seeking a simple way to bring whole-body health into your life with a food that is easy to integrate into your everyday routine with no muss, no fuss? Welcome to the world of adaptogens: nutrient-dense, calorie-sparse superfoods that have been clinically proven to help your body: defend your immunity and gut health, perform through your cardiovascular and respiratory systems, and restore balance through your neuroendocrine system.

Your company needs you to lead. Your family needs you to lead. The world needs you to lead. So how do you lead when unforeseen circumstances come along and rip the rug out from under you? It’s simple. You adapt. In this 10th Anniversary Edition of Adapt or Die, Rick speaks from experience to explore the needs of corporate leaders with more specificity than ever, with a brand-new look at how individuals and companies alike can better adapt in a post-pandemic world - and how each of us can fearlessly prepare for whatever comes next.