Can Mathematical Theories Destroy the Financial Markets?
Buch, Englisch, 400 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 730 g
ISBN: 978-0-470-40675-5
Verlag: WILEY
Fachgebiete
Weitere Infos & Material
Foreword.
Preface: An Evening at NYU, Taleb's Article, and a Credit Crisis.
Mathew Gladstein's Complaisanc.
ESSENTIALS.
CHAPTER 1 PLAYING GOD.
It's tough to model human action.
Finance is not as religious as physics.
Black Swans make things harder.
The markets are not Normal and the past is a faulty guide.
Should we care that theorists persist?
CHAPTER 2 THE FINANCIAL ECONOMICS FIEFDOM.
Virginity matters.
When describing reality was okay.
It's the incentives, stupid.
Many obstacles to reform.
Heeding Fischer Black's message.
CHAPTER 3 QUANT INVASION.
Machine learning comes to finance.
It's a computational thing.
Models live here, too.
Quant punting.
Interesting enough for a movie.
CRITIQUE.
CHAPTER 4 COPULATED NIGHTMARES.
Abrupt reform, if not so much prison.
Modeling death.
The 2005 pre-warning.
Rating us into hell.
A disapproving grin.
CHAPTER 5 BLAH VaR BLAH.
Insalubrious charlatanism.
Tracking a true culprit.
Credit truths.
A long rap sheet of evidence.
The police are in on it.
CHAPTER 6 BLUE IS NOT GREEN.
Lehman did die.
Anything is possible.
Buffett versus the Black Swan.
Stubbornly holding the theoretical fort.
An end to indoctrination.
CHAPTER 7 THE BLACK-SCHOLES CONUNDRUM.
Once upon a time at MIT.
Frowning, not smiling.
How Black was that Monday.
A devastating KO.
The Taleb & Haug critique.
CONCLUSIONS.
CHAPTER 8 BLACK SWAN DECEIT?
The tired "perfect storm" alibi may be a facade.
Indoctrinating clients and investors.
The unseemly marketers of academic dogma.
Do as I say, not as I do.
Glorifying complexity.
CHAPTER 9 AN UNHEALTHY YEARNING FOR PRECISION.
Dangerous voluntary enslavement.
Let freedom ring.
Normality can kill you.
A VIXing issue.
Protect those derivatives.
CHAPTER 10 WE NEED FAT TONY.
FINALE SHOULD THE NOBEL PRIZE IN ECONOMICS BE ELIMINATED?
Notes.
Acknowledgments.
About the Author.
Index.
