Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets? Pablo Triana, Nassim Nicholas Taleb
Publisher: Wiley; 1 edition (June 9, 2009) | ISBN: n/a | Language English | Audio CD in MP3/Variable + PDF (ebook 401 p) | 551 MB
For the past few decades, the financial world has often displayed an unreasonable willingness to believe that "the model is right, the market is wrong," in spite of the fact that these theoretical machinations were largely responsible for the stock market crash of 1987, the LTCM crisis of 1998, the credit crisis of 2008, and many other blow-ups, large and small. Why have both financial insiders (traders, risk managers, executives) and outsiders (academics, journalists, regulators, the public) consistently demonstrated a willingness to treat quantifications as gospel' Nassim Taleb first addressed the conflicts between theoretical and real finance in his technical treatise on options, Dynamic Hedging…
