Lo’s investment management firm, AlphaSimplex Group, has posted a decent intro here, and a link to a more comprehensive (15pg) essay (2004): https://www.alphas

Lo’s investment management firm, AlphaSimplex Group, has posted a decent intro here, and a link to a more comprehensive (15pg) essay (2004): https://www.alphasimplex.com/insight/the-adaptive-markets-hypothesis-market-efficiency-from-an-evolutionary-perspective/ https://www.alphasimplex.com/insight/the-adaptive-markets-hy...