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The Rocket Science Of Wall Street

Due to the challenging nature of the work, a blend of mathematics, economics,statistics ,behavioral finance(a new field developing fast after the 207-2008 Crisis),finance and computer skills, quants...

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Nassim Nicholas Taleb

Nassim Nicholas Taleb, creator of Black Swan Theory.Nassim is called by many as the "Modern Nietzsche" or even "Modern Renaissance Man".This is a man who suffers fools impatiently, and his intellect...

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Science in Finance:Criticism of the Black-Scholes model

There’s been a lot of criticism of the Black-Scholes model of late in the magazine (see Haug & Taleb, Wilmott magazine, January 2008) and in other media. Most is warranted, but perhaps not all. I...

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What is a Hedge Fund?

Ray Dalio ,founder of Bridgewater Associates,(world's richest Hedge fund manager with $120 billion under management) Hedge Funds  A hedge fund is a fund that can take both long and short positions, use...

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Brief History of Mathematical Finance

Key ConceptsFinance theory is the study of economic agents behavior allocating their resources across alternative financial instruments and in time in an uncertain environment. Mathematics provides...

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Nassim Nicholas Taleb against Gaussian Curve

Note:This article is made from theories and books of Nassim Nicholas Taleb.Gaussian or Bell curve is named because Friedrich Gauss proposed this curve . Bell curve, or Gaussian model, has since...

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Modern Portfolio Theory & CAPM.

Conventional wisdom amongst investors recommends maintaining a diversified portfolio. The reasoning behind this, however, is not so common knowledge. One theory put forth byHarry Markowitz, Modern...

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George Soros:Towards Theory of Reflexivity

  In its traditional formulation as an explanatory principle, reflexivity means that any object of thought contains in itself the thinking activity that generates it. Theory of Reflexivity is used by...

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Computational Finance

Computational financeis a cross-disciplinary field  in mathematical finance, it uses computational information, nonverbal transform and machine model to eliminate equivocation, trading and investments...

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Alternatives to Gaussian Curve

PIONEERSOFHIGH RISK/BLACK SWAN EVENT THEORY. As stated in my previous article about the problems of using Gaussian curve in events which have a low probability of occurrence and a very high impact, the...

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History of Money & Banking

This article is made from the books by Niall Ferguson.Niall Ferguson is a foremost historian in the study of money, wealth and bankingThe lust for money started in USA when in 1524 Spanish Francisco...

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Did Mathematics Cause the Financial Crisis?

Owing to the complex nature and the many loopholes inherent in risk assessment formulae, mathematics is largely to blame for the financial crisis that shook the world in September 2008 and wiped tens...

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Alchemy of Finance by George Soros

Note:This article is from books by George Soros.As an undergraduate I read at LSE and read science , philosophy and also came across economics but I realized that it lacks objectivity also it is a...

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The Black Swan

The Black Swan ... "Well, That's Life... The late, great Polish journalist, Ryszard Kapuscinski, wrote in his book on the last days of the Soviet Union, Imperium - that the genius of the Russian people...

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Physicists from Wall Street

Over the past decade, the number of Ph.D. physicists employed in the financial community has increased dramatically. Once considered something of an anomaly on Wall Street and in banking,...

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Actuaries VS Quants

The following article is taken from August 2008 issue of The Actuary magazine.     Those working in the two fields of actuarial science and quantitative finance have not always been totally...

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Randomness in Markets and Life

Complied from works of Nassim Nicholas Taleb.Randomness is everywhere from social science , life events or financial markets. Fat tails or wild events are probably the ones with massive impact.  Nature...

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Andrew Lo on Mathematical Models

If Adam Smith had a mind meld with Charles Darwin, Andrew Lo might result. A professor at MIT's Sloan School of Management, Lo is known for his multidisciplinary approach to finance, using everything...

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The 2008 Financial Crisis.

The 2008 Financial Crisis.This article is compiled from Rand Corporation articles, Wall Street Journal articles and my own research.The crisis was faced in 2007-2008 and it occurred in U.S and with...

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Benoît Mandelbrot's contribution to Finance

 Other mathematicians of probability like Kolmogorov may be more academic or progressive but Mandelbrot was unique he proved that mathematicians actually understand randomness, he is called by Nassim...

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