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Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Mark

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Item specifics

Condition
Very Good: A book that has been read and does not look new, but is in excellent condition. No ...
Title
Lecturing Birds on Flying: Can Mathematical Theories Destroy the
ISBN
9780470406755
Publication Year
2009
Type
Textbook
Format
Hardcover
Language
English
Publication Name
Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets?
Item Height
233mm
Author
Pablo Triana
Publisher
John Wiley & Sons INC International Concepts
Item Width
166mm
Subject
Finance
Item Weight
718g
Number of Pages
400 Pages

About this product

Product Information

LECTURING BIRDS ON FLYING 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. Now, in Lecturing Birds on Flying, Pablo Triana offers a powerful indictment on the trustworthiness of financial theory, explaining in jargon-free plain English how malfunctions in these quantitative machines have wreaked havoc in our real world. Triana first analyzes the fundamental question of whether financial markets can in principle really be solved mathematically. He shows that the markets indeed cannot be tamed with equations, presenting a long and powerful list of obstacles to prove his point: maverick unlawful human actions rule the markets, unexpected and unimaginable events shape the markets, and historical data is not necessarily a trustworthy guide to the future of the markets. The author then examines the sources of origin of many prevalent theories and mathematical dictums. He details how the field of financial economics evolved from a descriptive discipline to an abstract one dedicated to technically concocting professors' own versions of how such a world should work. He goes on to explain how Wall Street and other financial centers became eager employers of scientists, and how scientists became eager employees of financial firms. Triana concludes with an in-depth discussion of the most significant historical episodes of theory-caused real-life market malaise, with a strong emphasis on the current credit crisis. In the end, Lecturing Birds on Flying calls for the radical substitution of good old-fashioned common sense in place of mathematical decision-making and the restoration to financial power of those who are completely unchained to the iron ball of classroom-obtained qualifications.

Product Identifiers

Publisher
John Wiley & Sons INC International Concepts
ISBN-13
9780470406755
eBay Product ID (ePID)
87952596

Product Key Features

Author
Pablo Triana
Publication Name
Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets?
Format
Hardcover
Language
English
Subject
Finance
Publication Year
2009
Type
Textbook
Number of Pages
400 Pages

Dimensions

Item Height
233mm
Item Width
166mm
Item Weight
718g

Additional Product Features

Title_Author
Pablo Triana
Country/Region of Manufacture
United States

Item description from the seller

Business seller information

WRAP Ltd.
Mubin Ahmed
Unit 4
119 Loverock Road
Reading
Berkshire
RG30 1DZ
United Kingdom
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:enohP60358080080
:liamEmoc.aidemtumahab@yabe
Value added tax number:
  • GB 724498118
Trade registration number:
  • 03800600
I certify that all my selling activities will comply with all EU laws and regulations.
CRN Number:
  • 03800600
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