You are currently using the site but have requested a page in the site. Would you like to change to the site? 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. Triana first analyzes the fundamental question of whether financial markets can in principle really be solved mathematically.
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An intriguing look at how financial models have repeatedly failed our markets, including now Leading and contrarian thinkers have been talking for years about the conflicts between theoretical and real finance. Nassim Taleb first addressed the issue in his technical treatise on options, Dynamic Hedging. Now, in Lecturing Birds on Flying, Pablo Triana moves the conversation to a narrative that anyone can follow, and explains how it is that theoretical finance can fail dramatically in the real world.
The heart of the book, though, isn't about technicalities, but instead explores how widely accepted theories that are applied daily cause our world real harm. Many times, it's the quantitative models that hedge funds and investment banks use and regulators and rating agencies embrace that lead to market implosions.
These so-called models end up offering false guidance and misplaced certainty, and sanction unsavory behavior. In fact, these models were largely responsible for the stock market crash of , the LTCM crisis of , the credit crisis of , and many other blow-ups big and small.
Pablo Triana has been writing about the limits of these types of mathematics for several years; now he reveals exactly what this means for our markets and why blind self-enslavement to quantitative dictums puts us at great peril. Pablo Triana New York, NY, and Madrid, Spain has successful derivatives experience at all levels: trading floor, professor, consultant, and author.
He is a frequent contributor to business publications, including the Financial Times, Forbes. His prior book is Corporate Derivatives.
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Lecturing Birds on Flying: How Financial Practice Differs from Theory
Lecturing Birds on Flying: Can Mathematical Theories Destroy the Financial Markets?
Lecturing Birds on Flying
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Lecturing Birds on Flying : Can Mathematical Theories Destroy the Financial Markets?