Jun 28, 10
anyone interested in the recent market meltdown or the future of Wall Street
Read from June 23 to 28, 2010
An interesting insightful book about several of the major "quants" on Wall Street during the recent debacle, i.e., the quantitative investors who rely on complex mathematical equations and high-speed computers. The author does a good job explaining how these formulas and investment strategies work for laymen, which is a difficult challenge since many people who work in finance don't understand. It is a strong cautionary tale, although sometimes I think the author puts more blame on his subjects than is necessary. The meltdown was a result of many factors, and quantitative analysis and investing was a strong factor, but not the sole cause.
Nonetheless, anyone interested in the recent market meltdown or the future of Wall Street would do well to read it.