An excellent read that lays out comprehensive timeline of developments leading to the 2008 meltdown of the financial market, or at least the role thatAn excellent read that lays out comprehensive timeline of developments leading to the 2008 meltdown of the financial market, or at least the role that quant trading played in that debable. Patterson traces the evolution of game theory as a foundation for trading from card counting at blackjack tables to high-volume black box trading driven by obscure heuristic algorithms.
Readers with insight into technology and money market mechanics will be rewarded, although the book never gets bogged down in minute details. Its winning point is the attention to the players behind the disaster, providing a veritable rogues gallery of bizarre (and extremely wealthy) characters that might have featured in a "Revenge of the Nerds" movie. They might not be the crooks one wishes them to be, but they still come across as dysfunctional monomaniacs whose hubris and deluded belief in "perfect", logical markets had dire consequences for millions of people....more
A well thought out look at the ethical issues surrounding the black world of covert ops, CIA renditions and skunkworks technology. Unusual for its hanA well thought out look at the ethical issues surrounding the black world of covert ops, CIA renditions and skunkworks technology. Unusual for its hands-on approach, the book balances anecdotal stories with a theoretical framework for penetrating the black world's veil of secrecy. The application of ideas from experimental geography presents a new angle on understanding geopolitics.
Paglen's personal knowledge of the military gives him an interesting starting point that is not altogether unsympathetic. However, his final analysis of the covert function of agencies like CIA and NSA and the anti-terror activities of the Bush administration is strongly negative.
I would recommend this book for anyone looking for a fresh analysis of contemporary military practices or practical examples of experimental geography....more