Title
Lecturing Birds On Flying: Can Mathematical Theories Destroy The Financial Markets?-used
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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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We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main theme of 'Lecturing Birds on Flying'? A: The book critiques the reliance on mathematical models in finance, arguing that they can lead to significant market failures and crises.
- Q: Who is the author of 'Lecturing Birds on Flying'? A: The author is Pablo Triana, who provides insights into the flaws of financial theories and their real-world implications.
- Q: What type of binding does this book have? A: The book is available in hardcover binding, which offers durability and a professional appearance.
- Q: When was 'Lecturing Birds on Flying' published? A: The book was published on June 9, 2009.
- Q: How many pages does 'Lecturing Birds on Flying' contain? A: This book contains 400 pages.
- Q: What category does this book fall under? A: The book is categorized under Econometrics & Statistics.
- Q: Is 'Lecturing Birds on Flying' suitable for beginners in finance? A: Yes, the book is written in jargon-free plain English, making it accessible for beginners.
- Q: What are some key topics discussed in the book? A: Key topics include the limitations of mathematical models in finance, the evolution of financial economics, and historical market crises.
- Q: Does the book provide real-life examples of financial failures? A: Yes, it discusses significant historical episodes where theoretical models contributed to market failures.
- Q: What is the recommended approach to decision-making in finance according to the book? A: The author advocates for the use of common sense over rigid mathematical decision-making.