The Physics of Wall Street: A Brief History of Predicting the Unpredictable
| Author | : | |
| Rating | : | 4.73 (559 Votes) |
| Asin | : | B00C0MP7PY |
| Format Type | : | |
| Number of Pages | : | 433 Pages |
| Publish Date | : | 2014-03-18 |
| Language | : | English |
DESCRIPTION:
Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. After the economic meltdown of 2008, Warren Buffett famously warned, "beware of geeks bearing formulas." But as James Weatherall demonstrates, not all geeks are created equal. While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. Models-whether in science or finance-have limitations; they break down under certain conditions. The solution, however
OK stories, no physics. David J. Aldous I realize that a title 'The Mathematics of Wall Street" would not attract the desired readership, but it's still irritating (to me as a mathematician) to see mathematics being called physics. The book seeks to trace the history (over the last hundred years) of some of the mathematics relevant to finance. But, in a common modern style of writing, it relies on stories about individuals' lives with only rather superficial verbal description of the intellectual content of their ideas. As one extreme, a whole chapter seems built around the notion that "gau. zzrose said Very readable different approach to viewing markets. I've been a student of price action in numerous kinds of markets for over Very readable different approach to viewing markets I've been a student of price action in numerous kinds of markets for over 30 years. I have an interest in this material. I also have a B.S. in Physics. and this is a really good view of the market from the REAL technical view; not lines and patterns on a chart. You don't need a technical background to get a wealth of insight from this book. Once I clear through about a dozen other books in my queue for this year, I'm going to re read this. It's worth it. Of other interest if you like this book might be The Hour Between Dog And Wolf, which takes this t. 0 years. I have an interest in this material. I also have a B.S. in Physics. and this is a really good view of the market from the REAL technical view; not lines and patterns on a chart. You don't need a technical background to get a wealth of insight from this book. Once I clear through about a dozen other books in my queue for this year, I'm going to re read this. It's worth it. Of other interest if you like this book might be The Hour Between Dog And Wolf, which takes this t. "As a new economics born." according to Edoardo Angeloni. This book is an intelligent explication about the financial phoenomena. The author so follows several models of important economists, whom have tried to read inner those aspects. Particularly it is interesting as the fractal mathematics had had the possibility to arrive at this level of knowledge, in a better way than the tradition related to the Black-Scholes theorem.Economists as Taleb and Krugman, with mathematicians as Poincaré, Mandelbrot, Lévy, represent the foundaments of a new science which knows the economy in similar way of qua