Title
Lecturing Birds On Flying: Can Mathematical Theories Destroy The Financial Markets?,New
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Lecturing Birds On Flyingfor 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 Blowups, 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, Explainingin Jargonfree Plain Englishhow 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 Indepth Discussion Of The Most Significant Historical Episodes Of Theorycaused Reallife 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 Oldfashioned Common Sense In Place Of Mathematical Decisionmaking And The Restoration To Financial Power Of Those Who Are Completely Unchained To The Iron Ball Of Classroomobtained Qualifications.
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- Q: How many pages does the book have? A: This book has four hundred pages. It offers a comprehensive look into the relationship between financial theories and real-world markets.
- Q: What is the binding type of this book? A: The binding type is hardcover. This makes the book durable and suitable for frequent handling.
- Q: What are the dimensions of the book? A: The book measures six point three inches in length, one point three inches in width, and nine point three inches in height.
- Q: Who is the author of this book? A: The author is Pablo Triana. He provides insights into financial theories and their implications on the markets.
- Q: What genre does this book belong to? A: This book falls under the Econometrics and Statistics genre. It critiques the reliance on mathematical models in finance.
- Q: Is this book suitable for beginners in finance? A: Yes, this book is suitable for beginners. It explains complex financial concepts in jargon-free plain English.
- Q: What topics are covered in the book? A: The book covers topics like the limitations of financial models and the impact of theoretical failures on real markets.
- Q: Can I use this book for academic purposes? A: Yes, this book can be used for academic purposes. It provides critical analysis relevant to finance and economics students.
- Q: What is the main theme of the book? A: The main theme is the critique of quantitative finance and the argument for common sense over mathematical models.
- Q: How should I store this book? A: Store the book in a cool, dry place, upright like other hardcovers. This helps maintain its condition.
- Q: Is this book safe for all readers? A: Yes, the book is safe for all readers. It does not contain explicit content and focuses on financial theory.
- Q: How do I clean the book if it gets dirty? A: To clean the book, gently wipe the cover with a soft, damp cloth. Avoid using harsh chemicals or soaking it.
- Q: What if the book arrives damaged? A: If the book arrives damaged, you should contact customer service for a return or replacement.
- Q: Is there a warranty for this book? A: No, there is no warranty for this book. However, standard return policies apply.
- Q: How do I return the book if I don’t like it? A: To return the book, follow the retailer's return policy, typically within a specific timeframe.
- Q: Does the book offer practical applications for finance professionals? A: Yes, the book discusses practical implications of financial theories, making it valuable for finance professionals.