The Physics Of Wall Street

Author: James Owen Weatherall
Publisher: Houghton Mifflin Harcourt
ISBN: 9780547618296
Size: 18.72 MB
Format: PDF, Docs
View: 39

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. Taking us from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn’t understand their purpose, and didn’t care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. We see a geophysicist use a model designed for earthquakes to predict a massive stock market crash. We discover a physicist-run hedge fund that earned 2,478.6% over the course of the 1990s. And we see how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. Both persuasive and accessible, The Physics of Wall Street is riveting history that will change how we think about our economic future.

The Physics Of Wall Street

Author: James Owen Weatherall
Publisher: Houghton Mifflin Harcourt
ISBN: 9780547317274
Size: 12.97 MB
Format: PDF, ePub, Docs
View: 31

A Harvard scholar argues that mathematical models can provide solutions to current economic challenges, explaining that the economic meltdown of 2008 was based on a misunderstanding of scientific models rather than on the models themselves.

The Physics Of Finance

Author: James Owen Weatherall
ISBN: 1780720874
Size: 10.78 MB
Format: PDF, ePub
View: 85

"He takes us on a lively journey from fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes, showing how some of the finest scientific minds of the last century came to construct the sophisticated models on which modern securities trading is based"--Back cover.


Author: James Owen Weatherall
Publisher: Yale University Press
ISBN: 9780300209983
Size: 17.59 MB
Format: PDF
View: 55

The rising star author of "The Physics of Wall Street" explores why nothing may hold the key to the next era of theoretical physics"

The Young Investor

Author: Katherine R. Bateman
Publisher: Chicago Review Press
ISBN: 9781613740545
Size: 18.74 MB
Format: PDF, ePub, Docs
View: 78

Suggests how to make your money grow, discussing savings, investing, stocks, and the economy.

Quantitative Finance For Physicists

Author: Anatoly B. Schmidt
Publisher: Academic Press
ISBN: 9780120884643
Size: 13.36 MB
Format: PDF, Mobi
View: 57

With more and more physicists and physics students exploring the possibility of utilizing their advanced math skills for a career in the finance industry, this much-needed book quickly introduces them to fundamental and advanced finance principles and methods. Quantitative Finance for Physicists provides a short, straightforward introduction for those who already have a background in physics. Find out how fractals, scaling, chaos, and other physics concepts are useful in analyzing financial time series. Learn about key topics in quantitative finance such as option pricing, portfolio management, and risk measurement. This book provides the basic knowledge in finance required to enable readers with physics backgrounds to move successfully into the financial industry. * Short, self-contained book for physicists to master basic concepts and quantitative methods of finance * Growing field-many physicists are moving into finance positions because of the high-level math required *Draws on the author's own experience as a physicist who moved into a financial analyst position

Monkey Business

Author: John Rolfe
Publisher: Hachette UK
ISBN: 9780759523203
Size: 12.36 MB
Format: PDF, Mobi
View: 29

They Hit "The Street." Forget what you've read, forget what you've heard, forget what you've been taught. Monkey Business pulls off Wall Street's suspenders and gives the reader the inside skinny on real life at an investment bank, where the promised land is always one more twenty-hour workday and another lap dance away. "The Street" Hit Back. Fresh out of Wharton and Harvard business schools, John Rolfe and Peter Troob ran willingly into the open arms of investment bank giant Donaldson, Lufkin and Jenrette. They had signed on as foot soldiers in a white-collar army of overworked and frustrated lemmings furiously trying to spin straw into gold. They escaped with the remnants of their sanity-and, ultimately, this book. Uncensored, unsanitized, and uncut, it captures the chaotic essence of the Wall Street carnival and the outlandish personalities that make it all hum...and it will become the smartest, most entertaining investment you'll make this year.